Maharashtra Gramin Bank
Maharashtra Gramin Bank
About:
Regional Rural Banks have been in existence for around three decades in the Indian financial scene. With joint share holding by Central Government, the concerned State Government and the sponsoring bank, an effort was made to integrate commercial banking within the broad policy thrust towards social banking keeping in view the local peculiarities.
The Narsimham committee conceptualised the creation of RRBs in 1975 as a new set of regionally oriented rural banks, which would combine the local feel and familiarity of rural problems characteristic of cooperatives with the professionalism and large resource base of commercial banks. Subsequently, the RRBs were set up through the promulgation of RRB Act1 of 1976. The equity is held by the Central Government, concerned State Government and the Sponsor Bank in the proportion of 50:15:35.
RRBs were established “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”(RRBs Act, 1976).
Important Links:
Contact Details:
Head Office:
1st Floor, Janata Market,
Shivaji Nagar, Nanded-431 602.
(Maharashtra)
Phone: 02462-235039, 237050,243368, 244456. Fax: 235639
E_mail: nnd(at)mahagramin.in
Courtesy: mahagramin.in
