A mission adrift ~ I
The Regional Rural Banks (RRBs) are fast losing not only their ‘regional and rural’ character but, unfortunately, their inherent social banking nature, the very purpose of their establishment fifty years ago.
The Regional Rural Banks (RRBs) are fast losing not only their ‘regional and rural’ character but, unfortunately, their inherent social banking nature, the very purpose of their establishment fifty years ago.
The Department of Financial Services (DFS) has notified the amalgamation of 26 Regional Rural banks (RRBs) under the 'One State One RRB' policy, the Ministry of Finance said in a statement on Tuesday.
Finance Minister Nirmala Sitharaman, at a meeting held here on Monday, told the chiefs of Regional Rural Banks (RRBs) to adopt a policy of active outreach in MSME clusters to ensure credit is extended to small and micro enterprises.
With an aim to evaluate key financial metrics, Finance Minister Nirmala Sitharaman is set to convene a crucial review meeting to assess the performance of Public Sector Banks (PSBs) and Regional Rural Banks (RRBs).
