With reference to Regional Rural Banks (RRBs), consider the following statements: 1. RRBs are jointly owned by the Central Government, the concerned State Government and a Sponsor Bank in the ratio of 50:15:35, respectively. 2. RRBs are regulated by the Reserve Bank of India and supervised by NABARD. 3. RRBs are required to meet a Priority Sector Lending target of 75% of their total outstanding advances. Which of the statements given above are correct? |ForumIAS

[A] 1 and 2 only

[B] 1 and 3 only

[C] 2 and 3 only

[D] 1, 2 and 3

Answer: D

Notes:

Explanation:

Statement 1 is correct: The equity of an RRB is held by the Central Government, concerned State Government and Sponsor Bank in the ratio of 50:15:35, respectively.
Statement 2 is correct: RRBs are regulated by the RBI and supervised by NABARD.
Statement 3 is correct: RRBs have a 75% Priority Sector Lending target, compared with 40% for Scheduled Commercial Banks.

Source- NOA