Regional Rural Bank Act India

Read the Regional Rural Bank (RRB) Act of India. Search all sections at will.

Check out and search the entire Regional Rural Bank Act India. The main purpose of RRB's is to mobilize financial resources from rural / semi-urban areas and grant loans and advances mostly to small and marginal farmers, agricultural laborers and rural artisans. The area of operation of RRBs is limited to the area as notified by GoI covering one or more districts in the State. RRB's also perform a variety of different functions.

RRB's perform various functions in following heads

• Providing banking facilities to rural and semi-urban areas.

• Carrying out government operations like disbursement of wages of MGNREGA workers, distribution of pensions etc.

• Providing Para-Banking facilities like locker facilities, debit and credit cards.

RRB's are recognized by the law and they have legal significance.The Regional Rural Banks Act, 1976 Act No. 21 Of 1976 [9th February, 1976.] reads

"For the incorporation, regulation and winding up of Regional Rural Banks 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 the small and marginal farmers, agricultural laborers, artisans and small entrepreneurs, and for matters connected therewith and incidental thereto".

RRB's are therefore created with a view to develop rural economy. (Source: Wikipedia)

Read the entire Regional Rural Bank Act India. Search at will. All sections of the Act are available in the app.

Whether you are a layperson, law student, chartered accountant, a corporate lawyer or a taxpayer, this is an invaluable reference since it contains full text of the Act. You can search using any keyword and the app will show you the relevant sections.

* To see all sections of the Act (index) do not enter any search term and hit the search key. This provides you with complete list of chapters like a TABLE OF CONTENTS.

The list of contents chapter-wise comes up by default when you start the application.

To see list of contents chapter-wise, press the search key with no search text.

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