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.
Published By : Admin | December 2, 2014 | 20:20 IST
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आज रोज़गार मेले में मा. प्रधानमंत्री श्री @narendramodi जी से नियुक्ति पत्र प्राप्त करने वाले सभी 51,000 युवाओं को हार्दिक शुभकामनाएं।
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जय हो #RozgarMela
PM Shri @narendramodi has made employment a top priority, offering 1 million government jobs through #RozgarMela. Congratulations to the new recruits, and I encourage them to serve the nation with pride, integrity, and diligence. 🇮🇳 pic.twitter.com/9hq2TsQMPH
— Amit prajapati (@amitwork9999) September 26, 2023
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Indeed Sir, The New India in your leadership is creating a great atmosphere for our YuvaShakti to showcase their skills and be a contributor in Nation's progress. Sir, The "Can do" spirit has come from this mantra #ModiHaiToMumkinHai and now become an inspiration for all.
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What an Exemplary, Inspiring & Exhilarating Speech by Hon'ble PM commending #G20UniversityConnect & highlightng critical role of stdnts & youth in propelling #NewBharat's breathtaking #Speed & #Scale & invitd them to b part of d journey 2 make #Bharat a #DevelopedCountry by 2047! https://t.co/ymNCaRWF2b pic.twitter.com/gXg89QlUy1
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Anticipate an exhilarating future as the brightest young minds gather for the grand culmination of #G20 University Connect!
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Connected as always Sir 🙂
— दिनेश चावला (@iDineshChawlaa) September 26, 2023
It is good to see that the G20 Jan Bhagidari movement saw a record participation of more than 5 crore youth from different schools, higher education institutions, and skill development institutes from across the country.
Pranaam Sir
🙏🙏 pic.twitter.com/ToAXtvyGlB
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