RRB s In India: Strategies for Sustainable Development

Abstract

Purpose: Environmental imbalance is a huge topic of discussion all around the world because its vast affects on all the arenas. Due to this important concern, there are financial and economic rewards for monitoring all the environmental issues and tackling them.Banks play avitalrole in decarbonising the economy for a better future. In thisoperative agreement along with the pillarsofhonesty, impartiality, reliability, transparency, social banks are expected to work morally and not take any actions in any way which harm the environment. In this backdrop, the importance of the banking in the rural sector cannot be overlooked as majority of our country is in the villages. Itis rightly stated, “Real India lies in villages and that is where the development should be directed” and the rural economy is the ultimatepillarofthe Indian economy.
Methodology: Survey and interview.
Findings: RRBs were set up with the main motive to guarantee cheap, speedy and ethical acclaim facilities or credit allowances to the basic level entrepreneurs of the villages and to other feebler sections in the same niche.But the arena ofactof RRBs is limited to the areas as advised by the Indian government casing one or more districts in the Indian state. RRBs are jointly owned by the Indian government, the concerned State Government and Sponsor Banks which want to enter the field of social banking. The basic capital structureof RRB is shared by the owners in the proportion of 50%, 15% and 35% correspondingly. The objectiveof this study is to highlight the Green Banking and sustainable ingenuities being taken by the Indian Regional Rural Banks in terms ofcredit facilities, awareness, administration, energy efficiency, financial insertion, rural and urban green practices, corporate social responsibility and sustainable development and also to address the gaps prevalent in the economy and provide suggestions as to how one should control the carbonising of the economy by passing of more decrees, legislations and hands-on role that the RBI can take in India to a new ideal for making a greener and vigorous tomorrow.