answersLogoWhite

0

Functions of rural banks

Updated: 9/14/2023
User Avatar

Wiki User

13y ago

Best Answer

a rural bank may offer or perform any or all of the following services:

1. grant loans and make investments in accordance with existing rules and regulations

2. accept savings and time deposits

3. sell domestic drafts

4. act as correspondent for other financial institutions

5. receive in custody funds, documents, and other valuable objects, and rent safety deposit boxes for the safeguarding of such objects

6. act as financial agent, buy and sell, by order of and for the account of its customers, shares, evidences of indebtedness and all types of securities

7. make collections and payments for the account of others and perform such other services for its customers as are not incompatible with banking business.

User Avatar

Wiki User

13y ago
This answer is:
User Avatar
More answers
User Avatar

Wiki User

12y ago

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.

This answer is:
User Avatar

User Avatar

Wiki User

9y ago

The function of a rural bank is similar to an urban bank. They take deposits, offer credit services and other financial services in rural areas.

This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Functions of rural banks
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Finance

Functions of a rural bank?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


What are the functions of rural bank?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


What is rural banking and its functions?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


What are the point wise functions of a Rural Bank?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.Some disadvantages of rural banking are:Profits are much lesserRevenues are much lesserNumber of customers are lesserThe types of services provided are much lesserAll these are with respect to banking services provided by banks in cities.


What are the main functions of nationalised banks?

The functions of nationalized and private banks don't differ much. Except for the fact that nationalized banks are owned by the government, they do exactly the same thing private banks do. One difference I can think of is that, they operate in rural areas where private banks don't see any profitability to operate. They may help provide financial services to rural people.

Related questions

What is rural banking and its functions?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


Functions of a rural bank?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


What are the functions of rural bank?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


What are the point wise functions of a Rural Bank?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.Some disadvantages of rural banking are:Profits are much lesserRevenues are much lesserNumber of customers are lesserThe types of services provided are much lesserAll these are with respect to banking services provided by banks in cities.


What are the main functions of nationalised banks?

The functions of nationalized and private banks don't differ much. Except for the fact that nationalized banks are owned by the government, they do exactly the same thing private banks do. One difference I can think of is that, they operate in rural areas where private banks don't see any profitability to operate. They may help provide financial services to rural people.


What are the Activities of rural banking?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


Importance of rural banks?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


What is NABARD and is functions?

NABARD stands for National Bank for Agriculture and Rural Development. It's main functions are sending banks money to refinance what the IRDP ( Integrated Rural Development Programme) lends out to those generating self employment opportunities.


What is the function of a rural bank?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


What is the objective of a rural bank?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


What are the objectives of rural bank?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


What is the purpose of the rural bank?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.