Question

Which nationalized bank was first to sponsor a regional rural bank in india?

Answer 1

Answer is Syndicate Bank.

The first Regional Rural Bank in India is "Prathama Bank", which is opened in 1975 in the Moradabas city of Uttarpradesh. It is sponsored by a National bank called Syndicate bank.

Any Regional rural bank is established with 50% contribution from Central Government, 15% from State Governement and 23% from the sponsoring Bank.

Hope it helps.

Answer 2

Syndicate Bank was the first nationalised bank to sponsor a Regional Rural Bank.

It sponsored the Prathama Bank in Moradabad district of Uttar Pradesh in October, 1975.

The Syndicate Bank was founded by Upendra Ananth Pai in 1925. Initially it was called the Canara Industrial and Banking Syndicate Limited. The name was changed to Syndicate Bank Limited in 1964. It was nationalised by the Government of India in July, 1969. Syndicate Bank has its headquarters at Manipal in Karnataka and it stocks are listed in Bombay, Delhi, Mangalore and Bangalore stock exchanges.