Share
 
Comments

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today approved the amendments in the Regional Rural Banks (RRBs) Act, 1976 to enhance authorized and issued capital to strengthen their capital base and to bring flexibility in the shareholding between Central Government, State Government and Sponsor Bank. The term of the non-official directors appointed by the Central Government will be fixed not exceeding three years. 

The amendments will ensure financial stability of RRBs which will enable them to play a greater role in financial inclusion and meeting credit requirements of rural areas and the Board of RRBs will be strengthened. 

Background: 

Regional Rural Banks were established under Regional Rural Banks Act, 1976 (the RRB Act) to create an alternative channel to the cooperative credit structure and to ensure sufficient institutional credit for the rural and agriculture sector. RRBs are jointly owned by Government of India, the concerned State Government and Sponsor Banks with the issued capital shared in the proportion of 50 percent, 15 percent and 35 percent respectively. As per provisions of the Regional Rural Banks Act, 1976 the authorized capital of each RRB is Rs. five crore and the issued capital is maximum Rs one crore. 

Modi Govt's #7YearsOfSeva
Explore More
It is now time to leave the 'Chalta Hai' attitude & think of 'Badal Sakta Hai': PM Modi

Popular Speeches

It is now time to leave the 'Chalta Hai' attitude & think of 'Badal Sakta Hai': PM Modi
India's FY22 GDP expected to grow by 8.7%: MOFSL

Media Coverage

India's FY22 GDP expected to grow by 8.7%: MOFSL
...

Nm on the go

Always be the first to hear from the PM. Get the App Now!
...
PM to address 7th International Yoga Day programme tomorrow
June 20, 2021
Share
 
Comments

The Prime Minister, Shri Narendra Modi will address the 7th International Yoga Day programme tomorrow, 21st June at 6.30 AM.

In a tweet, the Prime Minister said, "Tomorrow, 21st June, we will mark the 7th Yoga Day. The theme this year is ‘Yoga For Wellness’, which focusses on practising Yoga for physical and mental well-being. At around 6:30 AM tomorrow, will be addressing the Yoga Day programme."