Regional Rural Banks

Boost credit flow to allied agri activities: FM Nirmala Sitharaman to RRBs

FM also directed Uttar Bihar Gramin Bank to increase credit flow to fisheries and foxnut (makhana) to realise the full potential of these activities in the region

PM Modi visualises women-led economic growth for India: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Friday asserted that PM Narendra Modi was of the view that women would steer economic growth in the country, which was on its way to becoming the third largest economy in the world. She was speaking at a credit outreach programme held in the north Bihar town of Darbhanga, where she was joined by cabinet colleague Chirag Paswan and Deputy Chief Minister Samrat Choudhary, among others. Sitharaman said, "Earlier, PM Modi used to tell me that the Union budget should be women-centric. But now he says the budget should be one that visualises women in leadership roles." The finance minister, who is on a two-day tour of Bihar, noted that the region, which was known for 'makhana' and Madhubani paintings, owed these to women's hard work. "We have brought in projects like 'Drone Didi'. Besides, cash assistance is being provided to women entrepreneurs through self-help groups. They are also being imparted with skills. Standing here, the birthplace o

Finmin starts phase 4 of RRB consolidation, number to fall from 43 to 28

In a bid to achieve operational efficiency and cost rationalisation, the Finance Ministry has initiated the fourth round of consolidation for Regional Rural Banks (RRBs) and the number of such banks is likely to come down to 28 from 43 at present. As per the roadmap prepared by the Finance Ministry, 15 RRBs operating in various states would be merged. Among states that will see consolidation of RRBs include Andhra Pradesh, which has the maximum number of RRBs (4), Uttar Pradesh and West Bengal (3 each), and Bihar, Gujarat, Jammu & Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Odisha and Rajasthan (2 each). In the case of Telangana, the amalgamation of RRBs will be subject to bifurcation of assets and liabilities of Andhra Pradesh Grameena Vikas Bank (APGVB) between APGVB and Telangana Grameena Bank. "Given the rural expansion of RRBs and agro-climatic or geographical ethos and in order to retain the USP of RRBs viz the closeness to communities, it is the felt need to embark on .

Increase share in ground-level agri credit: FM asks Northeast RRBs

Union Finance Minister Nirmala Sitharaman on Monday directed the Regional Rural Banks (RRBs) to increase their share in ground-level agriculture credit disbursement with a special focus on horticulture and allied agriculture activities like piggery, poultry, dairy and fisheries, officials said. Chairing a review meeting of the RRBs in the northeastern states at the civil secretariat here, Sitharaman urged the banks to put greater thrust on the identification of the right beneficiaries while sanctioning loans under various central schemes, they said. The meeting focused on business performance, upgrading digital technology services, and fostering business growth in allied agriculture and MSME clusters, they added. Among those present in the meeting were chairpersons of RRBs and sponsor banks, representatives of RBI, NABARD and SIDBI, and senior officers of all the northeastern states.

'One State, One RRB' policy gains momentum; may make debut in March 2025

Finance Minister Nirmala Sitharaman has urged RRBs to focus on improving digital services and supporting MSME growth

Finance ministry plans 'One State, One RRB' policy to boost efficiency

RRBs reported their highest-ever consolidated net profit of Rs 7,571 crore for FY24, with a gross non-performing assets (GNPA) ratio of 6.1 per cent - lowest in 10 years

Regional Rural Banks evince interest in going public at meet with FM

"Through the IPO, we aim to enhance our credibility as a prestigious organization to be part of and worth investing in," said a senior executive of an RRB

FM Nirmala Sitharaman seeks RBI help to clear RRB dues with states

The finance minister also directed RRBs to become more customer-friendly and use their local connections to further improve performance

FM Sitharaman urges regional rural banks to reduce high attrition rates

RRBs were established regionally and are oriented towards rural areas, with capital contributed by the Government of India, state governments, and sponsored banks under the RRB Act, 1976

FM asks RRBs to devise suitable products aligning with MSME clusters

Finance Minister Nirmala Sitharaman on Monday asked Regional Rural Banks (RRBs) to devise suitable products aligning with MSME clusters to increase banking penetration. During a review meeting with chairpersons of RRBs and CEOs of their sponsored bank, the finance minister emphasised active outreach by the RRB branches located in MSME clusters to ensure credit to small and micro enterprises in areas like textile, wooden furniture, leather, food processing, packing materials etc. that hold immense potential for increasing the loan portfolio. Sitharaman also asked sponsor banks and RRBs to recognise the challenges ahead and continue focusing on maintaining asset quality, expanding digital services, and ensuring robust corporate governance. During the meeting, Sitharaman underlined that all RRBs must have their own up-to-date technology stack to stay relevant and noted that digital banking services like mobile banking will be a boon for regions with relatively challenging physical ...

Regional Rural Banks losing ground to private banks amid tech challenges

The increasing presence of private sector banks has made the situation more challenging as RRBs fight the battle with outdated tools while other banks have advanced technology and basic infrastructure

FM Nirmala Sitharaman, PSB chiefs likely to talk NPAs and cybersecurity

Finance Minister Nirmala Sitharaman will hold the review meet on August 19

After strengthening capital, RRBs to focus on product diversification

The top priority will be upgrading the technology platform for digital banking for retaining existing customers and attracting new ones in rural areas

Employee associations demand merger of RRBs with respective sponsor banks

There are now 43 RRBs sponsored by 12 scheduled commercial banks with around 22,000 branches, operating approximately 30 crore deposit accounts and 3 crore loan accounts across 702 districts

Regional rural banks merger unlikely to happen in current financial year

The exemption dispensation from prior scrutiny and approval of CCI would be available for five years, the Corporate Affairs Ministry (MCA) said

Focus on digital capability upgrade, FM Sitharaman tells rural banks

The Centre has a 50 per cent stake in RRBs while sponsor banks and state governments own 35 per cent and 15 per cent, respectively

Nirmala Sitharaman asks RRBs to remove duplication of PMJDY accounts

Finance Minister Nirmala Sitharaman on Wednesday asked Regional Rural Banks to make efforts to remove duplication of Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts. During the review meeting with heads of RRBs, the finance minister emphasised the need to increase penetration under Pradhan Mantri MUDRA Yojana (PMMY) and financial inclusion and stated that a roadmap has to be prepared for completing the designated activities in a timebound manner. The minister urged the RRBs to remove duplication of PMJDY accounts and facilitate storage facility for apple growers particularly in J&K and Himachal Pradesh, an official statement said. During the review meeting of Regional Rural Banks of Northern Region here, the Finance Minister emphasised on digital capability upgradation of RRBs and instructed MD and CEO Punjab National Bank (PNB) to ensure that all RRBs by the bank to acquire digital onboarding capability by November 1, 2023. The Centre has 50 per cent stake in RRBs while sponsor ..

Centre likely to infuse capital in certain regional rural banks in FY24

Union Finance Minister Nirmala Sitharaman will hold a meeting with chairpersons and senior officials of RRBs from the Northern region in New Delhi on Wednesday

Improve CASA ratio, leverage account aggregator framework: FM to RRBs

During the meeting, discussions revolved around financial performance of RRBs

Sponsor banks need to proactively handhold RRBs for tech adoption: DFS

In FY22 and FY23, the Centre had decided to infuse Rs 10,890-crore into RRBs