Q. The idea of Regional Rural Banks (RRBs) in India was promulgated with RRB Act of 1976. In June 2004, an Advisory Committee on Flow of Credit to Agriculture and Related Activities recommended restructuring of RRBs in order to improve the operational viability of RRBs and take advantage of the economies of scale. Who among the following was the chairman of this committee?
Answer: Prof V S Vyas
Notes: The correct answer is Prof. V S Vyas. He chaired the Advisory Committee on Flow of Credit to Agriculture and Related Activities in 2004, which aimed to enhance the operational efficiency of Regional Rural Banks (RRBs) in India. RRBs were established under the RRB Act of 1976 to provide credit and develop rural areas, and the restructuring recommendations were crucial for their sustainability and effectiveness in serving the agricultural sector.