The first Regional Rural Bank (RRB) was established in India in the year 1975. RRBs are Scheduled Commercial Banks (Government Banks) operating at regional level in different States. These were established with the objective of proving basic banking and financial services to the people living in backward rural areas. These are owned by the Central Government, the State Government and the Sponsor Bank (Any commercial bank can sponsor the regional rural banks) who held shares in the ratios as follows Central Government - , State Government - 15% and Sponsor Banks - 35%.