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The Narasimham committee on rural credit recommended the establishment of Regional Rural Banks (RRBs) on the ground that they would be much better suited than the commercial banks or co-operative banks in meeting the needs of rural areas. Accepting the recommendations of the Narasimham committee, the government passed the Regional Rural Banks Act, 1976. A significant development in the field of banking during 1976 was the establishment of 19 Regional Rural Banks (RRBs) under the Regional Rural Banks Act‚1976.
The RRBs were established “with a view to developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and other facilities, particularly to small and marginal farmers, agricultural labourers, artisans and small entrepreneurs, and for matters connected therewith and incidental there to".
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Source:
http://www.macroscan.com/fet/jul05/pdf/RRB_Debate.pdf
http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/73991.pdf
http://www.indiaagronet.com/indiaagronet/bank_credit/CONTENTS/regional_rural_banks.htm
http://www.indianmba.com/Faculty_Column/FC923/fc923.html
http://business.mapsofindia.com/rural-economy/development/regional-banks.html
http://www.indian-bank.com/PuduvaiBharathiarGramaBank.htm
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