| Consider the following statements regarding Regional Rural Banks. |
| 1. Regional Rural Banks have been set up under the Act of 1976. |
| 2. A Regional Rural Bank is sponsored by a Public Sector Bank, which also subscribes to its a |
| 3. Public Sector Bank also provide the assistance in the form of infrastructure. |
| 4. Regional Rural Banks are cooperative undertaking in terms of ownership. |
| Which of the statements given above are correct? |
A) 1 and 2
B) 1, 2 and 3
C) 2, 3 and 4
D) 1, 3 and 4
Correct Answer: A
Solution :
[a] Regional Rural Banks are a type of banking institution. These banks were set up as part of a multi-agency En rural credit under an Act of 1976. A Regional Rural Bank is sponsored by a Public Sector Bank, which also subscribes to its share capital. Assistance is also given in the form of managerial personnel. The Regional Rural Banks, though operating as a subsidiary of one or the other Public Sector Bank, in terms of ownership are predominantly government undertakings.
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