RRBs & Co-operative

Banking · RRB और सहकारी बैंक · 15 facts

RRBs established in 1975 under RRB Act 1976 (Narasimham Working Group)

First RRB: Prathama Bank on 2 October 1975 in Moradabad, UP

RRB ownership: Centre 50%, State Govt 15%, Sponsor Bank 35%

RRBs supervised by NABARD; provide credit to rural and semi-urban areas

RRBs amalgamated from 196 to about 43 Regional Rural Banks currently

Co-operative Banks registered under Co-operative Societies Act

Co-op banks: dual regulation by RBI (banking) and State Govt (management)

3-tier co-op structure: Primary (village) -> District Central -> State Co-op Bank

Urban Co-operative Banks (UCBs) operate in urban/semi-urban areas

NABARD: apex institution for supervising RRBs and co-operative banks

RRBs focus on agriculture, small enterprise and rural development

Co-operative banks work on principle of one member one vote

RRBs offer Kisan Credit Card (KCC) to farmers for short-term agricultural credit

Multi-State Co-operative Societies Act 2002 governs co-operatives operating in multiple states

Saraswat Co-operative Bank is the largest urban co-operative bank in India