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SSC CGL 2022 PYQ — Question 46

SSC CGL - 18 April 2022 - Shift 1 • General Awareness • Q46

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At a Regional Rural Bank, the share of the Government of India is ______.
 

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Correct answer: A

Explanation

The correct answer is option 1 i.e. 50%.

  • The Act mandates that of the capital issued by a RRB, 50% shall be held by the central government, 15% by the concerned state government and 35% by the sponsor bank.
  • The Regional Rural Banks (Amendment) Bill, 2014 was introduced by the Minister of Finance, Mr. Arun Jaitley, in Lok Sabha on December 18, 2014.  The Bill seeks to amend the Regional Rural Banks Act, 1976. 
  • The Regional Rural Banks Act, 1976 mainly provides for the incorporation, regulation and winding up of Regional Rural Banks (RRBs).