The Role of RRBs in Entrepreneurship Development

Abstract

The Rural Development in India is one of the most important factors for the growth of the Indian economy. India is primarily an agriculture-based country. Agriculture contributes nearly one-fifth of the gross domestic product in India. In order to increase the growth of agriculture, the Government has planned several programs pertaining to Rural Development in India. Rural Development in India-Organizations: 1. Department of Rural Development in India 2. Haryana State Cooperative Apex Bank Limited 3. National Bank for Agriculture and Rural Development 4. Sindhanur Urban Souharda Co-operative Bank: 5. Rural Business Hubs (RBH) 6. Council for Advancement of People's Action and Rural Technology (CAPART) 7. National Bank for Agriculture and Rural Development The Role of Regional Rural Banks in Rural Entrepreneurship: In order to meet the global demand and the new challenges thrown to the Indian industry and also to generate employment at village level, entrepreneurship development has to be given a priority. In order to accelerate the growth of industries generate employment and utilities the national human potential there is a need to channelize the youth and women of the country for useful and productive purpose. There is also a need to motivate the guide the youth to enable them to take a step forward and take up a carrier of self employment and setup a small or micro enterprise as an entrepreneur. The RRBs have, further, to play a crucial role in our rural economy, as they have to act as alternative agencies to develop entrepreneurship ability and provide institutional credit in rural areas. In course of time, they are intended to eliminate money-lenders altogether. The sponsor banks also need to closely monitor the performance of their sponsored RRBs and provide timely guidance to them for entrepreneurship development wherever necessary.