Click here to download the Message of Mr. Arvind Singh Shekhawat the New Chairman of Bihar Kshetriya Gramin Bank.
The Narasimham committee on rural credit recommended the establishment of
Regional Rural Banks (RRBs) assuming that they would be much
better suited than the commercial banks or co-operative banks in
meeting the needs of rural areas. Accepting the recommendations
of the Narasimham committee, the Govt. of India passed the
Regional Rural Banks Act, 1976. The main objective of RRBs is to
provide credit and other facilities particularly to the small
and marginal farmers, agricultural laborers, artisans and small
entrepreneurs and develop agriculture, trade, commerce, industry
and other productive activities bridging the credit gap in rural
areas.
The establishment of the Regional Rural Banks (RRBs) was initiated in 1975 under the provisions of the ordinance promulgated on 26.9.1975 and thereafter Section 3(1) of the RRB Act, 1976. The issued capital of RRBs is shared by Central Government, sponsor bank and the State Government in the proportion of 50%, 35% and 15% respectively.
Bihar Kshetriya Gramin Bank, sponsored by UCO Bank, came into existence vide Govt. of India notification dated 12th September,2005 by amalgamating 3 RRBs namely Monghyr Kshetriya Gramin Bank, Bhagalpur-Banka Kshetriya Gramin Bank and Begusarai Kshetriya Gramin Bank in exercise of the powers conferred by sub-section (1) of section 23A of the Regional Rural Banks act, 1976 (21 of 1976).
The Bank has penetrated every corner of the 8 districts of Bihar and extended a helping hand in the growth process of the area. The Primary objective of the Bank is to finance farm & non-farm sectors and other employment generation programs, delivering the best possible customer service and also keeping in mind to turn all the branches into profit making business centers.
