The Narasimham Working Group during the tenure of PM Indira Gandhi’s government.
As on 31st March 2015, there are 56 RRBs in India – Source: RBI’s website
Sikkim and Goa
Prathama Bank sponsored by Syndicate Bank. In Moradabad, Uttar Pradesh
Uttar Bihar Gramin Bank, Sponsored by Central Bank of India
To provide sufficient banking and credit facility for agriculture and other rural sectors and thereby include rural areas into economic mainstream.
Central Government-50%, State Government- 15% and Sponsor Banks- 35%.
Sponsor Bank, short term and medium term lo from NABARD. Other sources are – SIDBI and Client Deposits.
The area of operation of RRBs is limited to the area as notified by Government of India covering one or more districts in the State.