Indian Economic Agencies

Regional Rural Bank

• Regional Rural Banks (RRBs) were established under Regional Rural Banks Act, 1976 (the RRB Act) to create an alternative channel to the 'cooperative credit structure and to ensure sufficient institutional credit for the rural and agriculture sector. RRBs are jointly owned by the Government of India, the concerned State government and sponsor banks.

NABARD

• NABARD is set up as an apex Development Bank (Est. in 12 July 1982) with a mandate for facilitating credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts. 
• It also has the mandate to support all other allied economic activities in rural areas, promote integrated and sustainable rural development and secure prosperity of rural areas. In discharging its role as a facilitator for rural prosperity NABARD is entrusted with
• Providing refinance to lending institutions in rural areas 
• Bringing about or promoting institutional development and 
• Evaluating, monitoring and inspecting the client banks.