The first Regional Rural Bank was established in India in the year:

Options

A. (a) 1982
B. (b) 1980
C. (c) 1975
D. (d) 1991

Answer

C

Explanation

The Regional Rural Banks were established in 1975 under the provisions of the Ordinance promulgated in 1975 and Regional Rural Banks Act, 1976 with a view to develop the rural economy by providing credit and other facilities to small and marginal farmers, agricultural labourers, artisans and small entrepreneurs for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas. Prathama Bank was the first Regional Rural Bank established in India in 1975.