REGIONAL RURAL BANKS LIST (2024) LATEST

In this article we will provide the information related to the Regional Rural Banks List. RRBs came into existence through a special rule passed on September 26, 1975, and a law called the RRB Act of 1976.

These were put in place to make sure that there was enough banking and credit support available for farming and other activities in rural areas. This led to the creation of five RRBs on October 2, 1975, based on advice from the Narsimhan Committee on Rural Credit.

This happened when Indira Gandhi was the Prime Minister. The main goal was to make sure that rural regions became a bigger part of the country’s economy, as nearly 70% of the people in India lived in rural areas.

Ownership of the Regional Rural Bank was divided among three entities: the central government, state government, and the sponsoring bank.

They held shares in the RRBs in the following proportions: 50% by the central government, 15% by the state government, and 35% by the sponsoring bank.

REGIONAL RURAL BANKS LIST 

Chaitanya Godavari Grameena Bank (CGGB) stands as a rural bank established under Andhra Bank’s sponsorship, primarily operating in Andhra Pradesh and Telangana.

It caters to rural and semi-urban areas, championing financial inclusion by serving the unbanked and underprivileged.

Formed on April 1, 2006, through the merger of Chaitanya Grameena Bank and Godavari Grameena Bank, CGGB aimed to enhance operational efficiency and rural outreach.

CGGB envisions becoming a premier rural bank, empowering rural communities with innovative financial solutions and fostering holistic development.

Offerings include diverse deposit schemes like savings, current, and fixed deposits, tailored for farmers and entrepreneurs. Loan products support agriculture, small industries, and individuals. CGGB actively participates in government financial inclusion programs and provides digital banking solutions and remittance services.

With branches and extension counters across rural and semi-urban areas of Andhra Pradesh and Telangana, CGGB serves as primary access points for banking services.

Engaged in CSR initiatives, CGGB promotes sustainable development through rural programs, health camps, education, and environmental projects, empowering local communities.

Investing in technology, CGGB modernizes its infrastructure to provide seamless and secure banking experiences to customers.

CGGB has received accolades for its outstanding performance in rural banking, financial inclusion, and CSR activities.

For more information about the click this link Chaitanya Godavari Grameena Bank