Regional Rural Banks (RRBs) were established in the year:

✅Explanation:
Regional Rural Banks (RRBs) were established in India in 1976 under the provisions of an ordinance passed on September 26, 1975, and the Regional Rural Banks Act of 1976. Their purpose is to provide essential banking and credit facilities in rural areas to support agriculture and other allied activities.
Key Points
-As a result, five RRBs were set up on 2 October 1975 on the recommendations of the Narasimham Committee on Rural Credit, during the tenure of Indira Gandhi's government.
-The purpose was to include rural areas into the economic mainstream since around 70% of the Indian population was rural.
-Prathama Bank, with head office in Moradabad, Uttar Pradesh was the first RRB. It was sponsored by Syndicate Bank and had an authorised capital of Rs. 5 crore.
-The other four RRBs were Gaur Gramin Bank (sponsored by UCO Bank), Gorakhpur Kshetriya Gramin Bank (sponsored by State Bank of India), Haryana Kshetriya Gramin Bank (sponsored by Punjab National Bank), and Jaipur-Nagaur Anchalik Gramin Bank (sponsored by UCO Bank).
-The RRBs were owned by the central government, state government, and the sponsoring bank with 50%, 15%, and 35% shareholding respectively

• Related Terminology:
-Scheduled Commercial Banks: Banks included in the Second Schedule of the Reserve Bank of India Act, 1934. RRBs are categorized as Scheduled Commercial Banks.
-Financial Inclusion: The process of ensuring that individuals and businesses have access to financial services. RRBs play a crucial role in promoting financial inclusion in rural areas.