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Explain objectives functions of regional rural banks?

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Question: Explain objectives functions of regional rural banks?

Regional rural banks (RRBs) are financial institutions that provide banking services to rural areas in India. They were established in 1975 under the RRB Act of 1976, with the objective of providing credit and other facilities to small farmers, agricultural laborers, artisans and small entrepreneurs.


The main functions of RRBs are:

- To provide loans and advances to rural sectors for productive and non-productive purposes, such as agriculture, animal husbandry, cottage industries, trade and commerce, etc.

- To mobilize deposits from rural areas and provide banking facilities to rural customers.

- To act as agents of the central and state governments, the Reserve Bank of India (RBI) and other commercial banks for implementing various schemes and programs.

- To provide financial inclusion and financial literacy to the rural population and promote social welfare activities.


RRBs are jointly owned by the central government, the state government and a sponsor bank, which is usually a nationalized bank. The shareholding pattern is 50%, 15% and 35% respectively. RRBs are regulated by the RBI and supervised by the National Bank for Agriculture and Rural Development (NABARD).

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