Multiple choice

Which of the following is incorrect with respect to Regional Rural Banks(RRB)?

  1. RRB are formed under RRB act 1976.

  2. RRBs are oriented towards the needs of weaker sections of rural population.

  3. RRB's are owned by Central bank of India (60%), State govenrnment (20%), and Sponsor bank (20%).

  4. RBI gave RRBs direct access to refinance at concessional rate and maintain a lower level of SLR than a commercial bank.

  5. In Nagaland, there are four RRBs.
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

In Nagaland, there is only one Regional Rural Bank.

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