About:

Rural credit policy in India has had at its core the twin goals of bringing an increasing number of people within the formal financial system and using credit as an instrument of poverty alleviation. Several measures have been taken by Government of India and Reserve Bank of India, from time to time to achieve these goals.

Even after commercial banks were brought into the field of Rural banking in the post nationalization scenario, a large segment of the rural population remained out side the fold of banking services. Therefore, the Govt. of India took a decision to establish a new set up regionally oriented rural banks which would combine the local feel, familiarity characteristic of co-operatives and professionalism and resource base of commercial banks. Following the recommendations of the committee, Regional Rural banks (RRBs) were set up first on 2nd October, 1975. Their number went up to 196 by the year 1987.

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