The Full Form of ‘PCARDB’ in Banking is ‘Primary Cooperative Agriculture and Rural Development Bank’.
Full Form of PCARDB
PCARDB stands for Primary Cooperative Agriculture and Rural Development Bank. It is a type of banking institution that provides financial services to cooperative societies, rural people, and small-scale businesses in India. The bank is designed to promote economic development in the rural areas of India by providing easy access to credit, savings and other banking products.
The PCARDB was established in 1977 by the Government of India with the intention of providing access to financial services in the rural areas of India. The main objective of the PCARDB is to improve the socio-economic condition of rural people by providing them with access to banking services.
The PCARDB operates under the supervision of the Reserve Bank of India (RBI) and is regulated by the Banking Regulation Act, 1949. It provides various banking services such as deposit accounts, loans, overdrafts, cash withdrawals and electronic fund transfers among others. The bank also offers various schemes such as agricultural loan scheme, housing loan scheme, Kisan Credit Card scheme etc., which are specifically designed for agricultural purposes and rural development activities.
The PCARDB has branches across all states in India and its operations are spread over 25 states and union territories. The bank also has a network of 828 Regional Offices located across different parts of the country. These regional offices provide assistance and guidance on various aspects related to banking operations such as opening new accounts or extending existing ones.
In order to become a member at PCARDB one needs to first register with it by submitting an application form along with necessary documents like identity proof and income proof etc., Once registered one can avail various benefits such as preferential interest rates on loans or higher returns on deposits etc., provided they meet certain eligibility criteria set by RBI or other regulatory authorities like SEBI (Securities Exchange Board Of India).
Overall, PCARDB plays an important role in promoting economic development in rural areas by providing easy access to banking services for farmers, cooperatives societies and other small scale enterprises operating in these regions. It helps them secure their financial future thus enabling them to lead a better quality life through proper utilization of available resources at their disposal.
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