After reading this article you will learn about the meaning and functions of local area banks. Meaning of Local Area Banks: In view of the success of co-operative banks in mobilising deposits and creating credit facilities in rural areas it has been established that co-operative banks throughout the country are playing a very important role of rural development and national [...]
After reading this article you will learn about:- 1. History of Regional Rural Banks (RRBs) 2. The Objectives of Regional Rural Banks 3. Area of Functioning 4. Sponsorship 5. Functions. History of Regional Rural Banks (RRBs): The Regional Rural Banks were established on the recommendations of Narsimha Committee on Rural Credit. The committee was of the view that RRBs would [...]
Subject Matter of the RBI Act: The process of deciding main features of the Reserve Bank of India Act was not only difficult but was long drawn. Notwithstanding the years of controversy that had raged around the constitutional set-up of a central bank for India, and the fact that the country had twice had an opportunity to discuss legislation for [...]