Question

The Regional Rural Banks Act was passed in which year by the Government of India?

• A. 1966
• B. 1976
• C. 1986
• D. 1996

Answer 1

Answer:

B. 1976

• The Regional Rural Banks Act was enacted in 1976 to provide financial services to rural areas in India.

• The Regional Rural Banks (RRBs) were established in 1975 under the provisions of the Ordinance promulgated on 26th September, 1975 and Regional Rural Banks Act, 1976 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 thereto.