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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

Prathama Bank sponsored by Syndicate Bank. In Moradabad, Uttar Pradesh

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%.

  • Granting of lo and advances to small and marginal farmers and agricultural labourers, whether individually or in groups, and to co-operative societies, agricultural processing societies, co-operative farming societies, primarily for agricultural purposes or for agricultural operations and other related purposes.
  • Granting of lo and advances to artis, small entrepreneurs and persons of small me engaged in trade, commerce and industry or other productive activities within its area of co-operation and
  • Accepting deposits.

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.