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What is the objective and Role of RRB?

Oct 6, 2015 11:52 IST

    RRB (Regional Rural Bank) is also known as ‘Gramin Bank’. It was established in 26th September 1975 with the objective of the economic development of India. The ideology behind RRB is to focus on the upliftment of the rural economy because it is assumed that Real growth of Indian Economy lied in the freeing of rural masses from unemployment, acute poverty and socio-economic backwardness.

    RRBs works for fulfilling the needs of rural population comprised of: -

    - Agricultural laborers

    - Artisans

    - Small entrepreneurs

    - Small and marginal farmers

    - Mobilize deposits from rural households

    Role for RRB: - RRB has following major role in implementation of central and state government sponsored various programme of poverty alleviation as-

    • Swarnajayanti Gram Swarozgar Yojana(SGSRY)
    • Prime minister Rozgar guarantee Yojana
    • Antyabasai
    • Old Age pension
    • Midday Meal
    • Indira Awas Yojana
    • Payment to Aganbadi
    • Scholarship to Students
    • Labor payment for NAREGA laborers

    NABARD is the main regulatory authority of all Regional rural Banks in India.

    The structure of RRBs: - RRB’s has mainly three shareholders namely-

        i. Government of India - 50% share
        ii. Sponsor Bank           - 35% share
        iii. State Government    - 15% share

    Organizational structure varies from banks to banks, depending upon the nature and size of business done by the Branch.RRB’s office had three to seven departments.

    Following is the decision making hierarchy of officials in RRB’s.

    i. Board of Directors
    ii. Chairman & Managing Director
    iii. General Manager
    iv. Chief manager /regional managers
    v. Senior manager
    vi. Manager
    vii. Assistant manager
    viii. Assistants

    DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

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