In which one of the following ratios, the share capital of RRBs is prescribed for the Central…
Under Section 6(2) of the Regional Rural Banks (RRB) Act, 1976, the issued capital of every Regional Rural Bank is subscribed by the Central Government, the concerned State…
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In which one of the following ratios, the share capital of RRBs is prescribed for the Central Government, State Government and Sponsoring bank?
Answer and explanation
Correct answer D
Under Section 6(2) of the Regional Rural Banks (RRB) Act, 1976, the issued capital of every Regional Rural Bank is subscribed by the Central Government, the concerned State Government, and the Sponsoring Bank in the statutory ratio of 50 : 15 : 35 (50%, 15%, and 35% respectively).
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UGC NET Commerce