Berhampur: Today marks the 50th anniversary of the formation of Regional Rural Banks (RRBs), popularly as Grameen Banks, in the country.
All India Regional Rural Bank Employees Association (AIRRBEA) is celebrating the Golden Jubilee Year of establishment of RRBs in a befitting way, commencing from 2nd October 2024 by garlanding the statues of Father of the Nation Mahatma Gandhi as a mark of beginning of celebrations throughout the year organising seminars, meetings and other programmes to highlight the very important role being played by RRBs in extending services to 40 crore customers through 22,000 branches, constituting over 30% of total branch network in Rural India.
Utkal Grameen Bank and its associations – UGBEA, UGBOA & UGBRSA under the aegis of the AIRRBEA commemorated the Golden Jubilee celebrations in Berhampur with a series of events and activities.
The AIRRBEA members conducted a rally from Suba Rao square near Regional office of UGB, Berhampur to Gandhinagar Square.
Hrushikesh Patro, General Secretary of UGBEA, said that the event aims to spread awareness about the utility of rural banking as regional rural banks have become very profitable for more than 40 crore customers of the country.
The Golden Jubilee celebrations aimed to highlight the crucial role RRBs have played in serving rural communities across India for the past five decades. It also highlighted AIRRBEA’s demand for formation of National Rural Bank of India (NRBI), opposing IPO in RRBs, parity in the matter of all staff benefits with those of the sponsor banks, immediate revision of promotion policy, recruitment of adequate number of staff as per updated manpower policy and fulfilment of all pending demands placed by the AIRRBEA, he said.
The Golden Jubilee campaign has put the legacy of RRBs at the forefront of significant events, aiming to enhance the role of these banks in rural development and secure the future of their employees.
It was on 2nd October 1975 that 5 RRBs started their journey, namely Prathama Grameen Bank (UP), Gorakhpur Grameen Bank (UP), Haryana KGB (Haryana), Jaipur Nagar AGB (Rajasthan) and Gaur Grameen Bank (West Bengal), on the basis of an ordinance promulgated by the Indian government on 26.09.1975, which was replaced by the RRBs Act, 1976 (Act No. 21 of 1976).
Number of RRBs were growing up gradually and in 1977, the government has set up Committee under Dr M. L. Dantwala, the then DG, RBI to review the need of expansion of the RRBs and their utility in the banking sector. This Committee highly appreciated the role of RRBs which were set up combining the local feel and familiarity of the cooperative sector and professional competence of the Commercial Banks on one side, and started working as Small Mans’ Bank at their doorstep on the other, and strongly recommended for expansion of these Banks. This led to massive expansion and 196 RRBs got established all over the country by 1987.