When was service area approach adopted by the banks in India?
April 1989
The Service Area Approach (SAA) introduced in April 1989, in order to bring about an orderly and planned development of rural and semi- urban areas of the country, was extended to all Indian scheduled commercial banks including Regional Rural Banks (RRBs), vide our Circular letter RPCD.
What is area approach?
Jul92020. Service area approach (SAA) is a developed version of the ‘area approach’ structure of the Lead Bank Scheme. Under SAA plan each commercial bank / RRB branch in a rural and semi-urban area is designated to serve 15 to 25 villages for the planned and orderly development of the areas.
Who acts as the sole representative of the Reserve bank?
The bank is headed by the governor, currently Shaktikanta Das. There are currently four deputy governors Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar. Two of the four deputy governors are traditionally from RBI ranks and are selected from the bank’s executive directors.
Which act empowered the Reserve Bank of India RBI to regulate control and inspect the banks in India?
The Banking Regulation Act, 1949
The Banking Regulation Act, 1949 empowers the Reserve Bank of India to inspect and supervise commercial banks.
Who introduced service area approach?
the RBI
The Service Area Approach (SAA) was a scheme launched by the RBI in 1989 for an orderly development of the rural areas with the of the country.
What is service area approach?
The Service Area Approach (SAA) introduced in April 1989, in order to bring about an orderly and planned development of rural and semi- urban areas of the country, was extended to all Indian scheduled commercial banks including Regional Rural Banks (RRBs), vide our Circular letter RPCD.
Which committee recommended for the establishment of RBI?
the Hilton Young Commission
The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission. The Reserve Bank of India Act, 1934 (II of 1934) provides the statutory basis of the functioning of the Bank, which commenced operations on April 1, 1935.
Who appoints RBI governor?
“The Appointments Committee of the Cabinet has approved the reappointment of Shaktikanta Das as Reserve Bank of India Governor for a period of three years beyond 10.12. 2021 or until further orders, whichever is earlier,” an official statement stated.
Which committee recommended for the Study of Rural bank by NABARD?
B.Sivaramman Committee
NABARD was established on the recommendations of B. Sivaramman Committee (by Act 61, 1981 of Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981.
When RBI regulation Act was introduced?
Banking Regulation Act, 1949
The Banking regulation Act, 1949 | |
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Citation | Act No. 10 of 1949 |
Territorial extent | Whole of India |
Enacted by | Parliament of India |
Enacted | 10 March 1949 |
Who was the founder of Punjab National bank?
Dyal Singh MajithiaPunjab National Bank / Founder
Lala Lajpat Rai and PNB The prospectus of the bank was published in the Tribune, and the Urdu Akhbar-e-Am and Paisa Akhbar. On 23rd May, 1894, the founders met at the Lahore residence of Sh. Dyal Singh Majithia, the first Chairman of PNB, and resolved to go ahead with the scheme.
What is a service area?
: an area next to a highway where people can stop to rest, use the bathroom, get food, etc.