50 years of RRBs: A story of reform and transformation in rural India

After consolidation, creating a national rural bank holding company, an apex body to oversee governance, capital support, and technology integration across RRBs can be considered

A set of financial institutions recently celebrated its 50th anniversary, quietly. 

Among them was India’s first regional rural bank (RRB), Prathama Gramin Bank, which was established on October 2, 1975 in Moradabad, Uttar Pradesh. Sponsored by Syndicate Bank (which was merged with Canara Bank in April 2020), its goal was to promote financial inclusion and develop the rural economy by providing credit to small and marginal farmers, rural artisans, agricultural labourers, and small businesses neglected by commercial banks. 

Away from skyscrapers and fintech hubs, this is among the RRBs that have been transforming the