Quick Summary
Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman chairs meeting to review performance of 10 Regional Rural Banks of the Southern Region, including Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana and UT of Puducherry, in Bengaluru, today Focus of the meeting was business performance, upgrading digital technology services, and fostering business growth in activities allied to agriculture and micro and small industry Union Finance Minister urges RRBs to increas
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FAQ :
The meeting focused on the business performance of the RRBs, upgrading their digital technology services, and fostering business growth in activities allied to agriculture and micro and small industries.
The Finance Minister urged RRBs to increase credit disbursement under various Government of India flagship schemes, such as PM MUDRA Yojana and PM Vishwakarma Yojana, and to scale up agriculture credit with a focus on allied activities like dairy, animal husbandry, and fisheries.
The Finance Minister acknowledged demonstrable improvement in the financial performance and technology upgradation of RRBs since 2022, noting healthy consolidated CRAR and Gross Non-Performing Assets, and significant profits in FY 2024.
The 10 RRBs reviewed have completed technology upgrades for customer-centric digital services including Micro-ATMs, call centres, net banking, Video KYC, RTGS, and IMPS.
RRBs have been directed to devise a strategy for MSME credit with customised products aligning with cluster activities, and to explore collaborations with SIDBI on digital platforms for co-lending, risk sharing, and refinance.
The Department of Financial Services has been directed to examine and suitably amend the recruitment rules for RRBs to ensure candidates possess knowledge and proficiency in local languages.
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