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Question
What are the objectives involved in Regional Rural Banks?
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Solution
Their objective is to develop the rural economy and play a supplementary role to cooperative societies. They mobilize deposits from the rural public and provide finance to rural artisans, small entrepreneurs, and farmers and try to avoid their dependency on money lenders. As of 31.3.2016, there were 56 RRBs in India with 14,494 branches. They are regulated and supervised by NABARD.
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