Pratham Bank, the first Regional Rural Bank of India, had its Head Office in which state?

The correct answer is Uttar Pradesh.

Key Points

•  Pratham Bank was established in 1975 as the first Regional Rural Bank of India.
•  Its Head Office was located in Moradabad, Uttar Pradesh.
• The bank was sponsored by Syndicate Bank and had its operations in 8 districts of Uttar Pradesh.
• The first Regional Rural Bank “Prathama Grameen Bank” was set up on October 2, 1975.
• At present, there are 82 RRBs in India. 
• The equity of a regional rural bank is held by the Central Government, the concerned State Government and the Sponsor Bank in the proportion of 50:15:35
• The purpose was to include rural areas into the economic mainstream since around 70% of the Indian population was rural.
• Prathama Bank, with its head office in Moradabad, Uttar Pradesh was the first RRB.

Additional Information

• In October 1983, the Grameen Bank Project was transformed into an independent bank by government legislation.
• Today Grameen Bank is owned by the rural poor whom it serves. Borrowers of the Bank own 90% of its shares, while the remaining 10% is owned by the government.
• The journey of Vikas Bank which started as a small dream of like-minded friends to the proud moment of being a prestigious cooperative bank is a curious and inspirational one
• A group of social-minded youths of Sindhanur in Raichur district came together to form Vikas Yuvaka Mandali in 1979.