Question

Role of regional rural bank in economic development of india

Answer 1

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ROLE OF REGIONAL RURAL BANKS IN RURAL DEVELOPMENT OF ECONOMY


RRBs plays a pivotal role in the economic development of the rural India. The main goal of establishing regional rural banks in India was to provide credit to the rural people who are not economically strong enough, especially the small and marginal farmers, artisans, agricultural labours, and even small entrepreneurs.
The role of these banks in economic development is examined, their policies and progress are assessed, and suggestions are given on how they can help improve and uplift the weaker sections of society. This latter objective has been largely achieved by the RRBs. They have succeeded in extending their branch network to the unbanked or under-banked rural areas, and they have made significant progress in deposit mobilization, and in extension of credit particularly among the poor. Furthermore, RRBs have played an important role in the implementation of various special schemes such as the Integrated Rural Development Programme

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