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Union Finance Minister Smt. Nirmala Sitharaman chairs meeting to review performance of nine Regional Rural Banks (RRBs) of Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh and Rajasthan, in Udaipur, today Smt. Sitharaman urges RRBs to generate awareness of Government schemes, especially in aspirational districts Union Finance Minister acknowledges the improvement in technology upgradation of nine RRBs of Western Central region since 2022 Smt. Sitharaman emphasises on active outreach by RRB
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FAQ :
The meeting focused on reviewing the performance of nine Regional Rural Banks (RRBs), with particular emphasis on business performance, upgrading digital technology, fostering business growth in MSME clusters, and deepening financial inclusion in rural areas.
The Finance Minister emphasised that RRB branches located in MSME clusters should conduct active outreach to ensure credit is available to small and micro enterprises. They were also directed to review their credit portfolios in this segment.
RRBs were urged to generate awareness and provide credit under schemes like PM Surya Ghar Muft Bijli Yojana, One District One Product (ODOP) programme, and PM Vishwakarma scheme. They were also directed to improve the performance of the MUDRA scheme and other financial inclusion schemes.
The consolidated capital to risk ratio has increased, profitability has improved significantly from losses to net profit, and Gross Non-Performing Assets are relatively low. Technology upgradation has also shown satisfactory improvement since 2022.
Sponsor Banks play a significant role by providing technical assistance, sharing best practices, and ensuring RRBs have access to necessary resources to succeed.
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