Institutional finance is an important pre-requisite for rural development. The rapid development of agriculture and allied activities following the use of modern science and technology forms the base of economic development. Rural credit policy in India has had at its core in the twin goals of bringing an increasing number of people within the formal financial system and using credit as an instrument of poverty alleviation. Banking system occupies an important place in a nation’s economy and an indispensable institution in India. At present Regional Rural Banks are playing a vital role in providing finance for rural development and weaker sections of the economy. The Regional Rural Bank was first set up by the Government of India on 2’14 October 1975, the date of birth of Mahatma Gandhi, under the Regional Rural Bank Ordinance. The first five Regional Rural Banks were set up on October 2nd, 1975 in Uttar Pradesh, Haryana, Rajasthan and West Bengal states. The main objectives of Regional Rural Banks are to provide credit facility and services to the rural areas, in particular are expected to cater to the needs of small and marginal farmers, agricultural labourers and landless workers, rural artisans, small business labourers and landless workers, rural artisans, small businessmen and retail traders and professionally self-employed persons. Since 1975’s there has been considerable progress in the development of rural banking in the banking industry, especially in Regional Rural Banks (RRBs), whose major objective is to help accelerate the pace of economic development with special attention to the priority sectors. The present Book has made a modest attempt to close the research gap in the area of regional-specific institutional dimensions of issue of credit in the Regional Rural Banks. The growth and performance of RRBs in India and Andhra Pradesh had been significant. The objectives of the RRBs may achieve to provide rural finance especially in priority sector targets. It is the fond hope of the author that the major findings and conclusions drawn and the suggestions made will be of much help to the government officials, bankers and policy makers.
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