Which of the following statements regarding Regional Rural Banks (RRB) in India is/are correct ? 1. The basic aim of setting up the RRBs is to develop rural economy. 2. The area of RRBs is limited to a specific region comprising one or more districts. 3.

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Q: 43 (CAPF/2011)

Which of the following statements regarding Regional Rural Banks (RRB) in India is/are correct ?
1. The basic aim of setting up the RRBs is to develop rural economy.
2. The area of RRBs is limited to a specific region comprising one or more districts.
3. RRBs are sponsored by Commercial Banks.
Select the correct answer using the code given below :

question_subject: 

Economics

question_exam: 

CAPF

stats: 

0,60,46,11,30,5,60

keywords: 

{'regional rural banks': [0, 0, 2, 1], 'rrb': [0, 0, 0, 1], 'rrbs': [0, 1, 0, 1], 'commercial banks': [0, 0, 1, 1], 'rural economy': [0, 0, 0, 1], 'specific region': [0, 0, 0, 1], 'india': [8, 1, 7, 13], 'area': [0, 0, 0, 1], 'more districts': [0, 0, 1, 1]}

The correct answer is option 4, which means all of the statements are correct.

Statement 1 is correct because the basic aim of setting up the RRBs is indeed to develop the rural economy. RRBs are specifically designed to cater to the financial needs of the rural areas and provide banking services to the rural population.

Statement 2 is also correct as the area of operation for RRBs is limited to a specific region comprising one or more districts. This allows them to focus on serving the rural population in a specific geographic area and understand the specific needs and challenges of that particular region.

Statement 3 is correct as well because RRBs are sponsored by Commercial Banks. Commercial Banks, along with the Government of India and the concerned State Government, are the sponsors of RRBs. They provide financial and managerial support to the RRBs to ensure smooth functioning and effective implementation of their activities.

In conclusion, all of the statements provided in the options are correct, making option 4 the correct answer.