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This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India’s commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.
Panchayati raj (council of five officials) is the system of local self-government of villages in rural India [1] as opposed to urban and suburban municipalities. It consists of the Panchayati Raj Institutions (PRIs) through which the self-government of villages is realized. [ 2 ]
Jawaharlal Nehru inaugurated the Panchayati Raj system at Nagaur, Rajasthan, on 2 October 1959, to coincide with Mahatma Gandhi's birthday. Gandhi had envisioned Gram Swaraj through Panchayati Raj. [8] Rajasthan was the first state to implement it. Nehru also inaugurated Panchayati Raj in Andhra Pradesh on 11 October 1959, on the occasion of ...
It also refinances fund from World Bank and Asian Development Bank to state co-operative agriculture and rural development banks (SCARDBs), state co-operative banks (SCBs), regional rural banks (RRBs), commercial banks (CBs) and other financial institutions approved by RBI. While the ultimate beneficiaries of investment credit can be ...
As a first step towards formulating the project, the Ministry of Panchayati Raj constituted an Expert Group in June, 2007 under the Chairmanship of Dr. B.K. Gairola, Director General, NIC, Government of India.
The panchayati raj system is a three-tier system with elected bodies at the village, taluk and district levels. The modern system is based in part on traditional Panchayat governance , in part on the vision of Mahatma Gandhi and in part by the work of various committees to harmonize the highly centralized Indian governmental administration with ...
The share of the bank sector held by the public banks continued to grow through the 1980s, and by 1991 public sector banks accounted for 90% of the banking sector. A year later, in March, 1992, the combined total of branches held by public sector banks was 60,646 across India, and deposits accounted for ₹1,10,000 crore.
The 3-tier system of Panchayati Raj should be replaced by the 2-tier system: Zilla Parishad at the district level, and below it, the Mandal Panchayat consisting of a group of villages covering a population of 15000 to 20000. A district should be the first point for decentralisation under popular supervision below the state level.