On October 2, 1975, the government established Regional Rural Bank to provide banking facilities to every village. The objective of establishing Regional Rural Banks was to provide loans and banking facilities to the rural poor, in which these banks have played an important role. Regional rural banks have a huge contribution in the rural economy of India.
Rural banks have become modern
Today these rural banks are providing banking facilities in rural and semi-urban areas. While rural banks work to distribute the salaries of MNREGA workers, they are also providing facilities of locker, debit card, credit card, mobile banking, net banking and all the government schemes to the customers.
Today Gramin Bank has 22 thousand branches
Initially their number was 5 which increased to 196. Today, there are 43 Regional Rural Banks functioning in 26 states and 3 union territories across the country with 22000 branches. These banks have more than 28 crore depositors and 3 crore loan taking customers across the country.
Need for reform in Grameen Bank
For this, the Government of India had constituted an expert committee to suggest a roadmap to make structural reforms in regional rural banks on a practical and appropriate basis, which has given many suggestions to the government, one of the major suggestions being to further strengthen these banks. To provide this, a rural bank should be created in one state, on which the government is working and it will be implemented soon. Central government has 50% stake, state governments have 15% stake and sponsor banks have 35% stake in rural banks.
Demand of National Rural Bank of India
A demand is being raised that if all the rural banks are merged and National Rural Bank of India is formed, then a big and strong bank will be formed and will be able to contribute smoothly to the rural economy of the country.
Ashwani Rana, Founder, Voice of Banking
The post Regional Rural Bank turns 50, started with 5 branches on 2 October 1975, today has 22000 branches appeared first on NewsUpdate – Latest & Live Breaking News in Hindi.
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