(ii)  Regional rural banks  Regional Rural Banks (RRBs) were established in the year 1976 as a low cost financial intermediation structure in the rural areas to ensure sufficient flow of institutional credit for agriculture and other rural sectors. RRBs were expected to have the local feel and familiarity of the cooperative banks with the managerial expertise of the commercial banks.
Before we can measure productivity we need to know what it is. A basic issue to many but an important one nevertheless. There are technical definitions of productivity which I do not want to bore you with today. Very broadly, productivity captures our ability to transform our physical and human  BIS Review 33/2005  1  resources to generate the desired outputs.