Regional Rural Banks in India were given statutory form by which Act?
- A.Banking Regulation Act, 1949
- B.Regional Rural Banks Act, 1976
- C.NABARD Act, 1981
- D.Cooperative Societies Act, 1912
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The first five Regional Rural Banks were created on 2 October 1975 by an Ordinance, and that Ordinance was replaced the next year by the Regional Rural Banks Act, 1976, which fixes their objects, capital and shareholding.
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