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.
The Prime Minister Shri Narendra Modi today expressed satisfaction that Digital India has made the process of getting pension easier and it is proving to be very useful for senior citizens across the country.
Responding to a post by journalist Ajay Kumar, Shri Modi wrote:
“सबसे पहले @AjayKumarJourno जी, आपकी माता जी को मेरा प्रणाम!
मुझे इस बात का संतोष है कि डिजिटल इंडिया ने उनकी पेंशन की राह आसान की है और यह देशभर के बुजुर्ग नागरिकों के बहुत काम आ रहा है। यही तो इस कार्यक्रम की बहुत बड़ी विशेषता है।”
सबसे पहले @AjayKumarJourno जी, आपकी माता जी को मेरा प्रणाम!
— Narendra Modi (@narendramodi) October 9, 2024
मुझे इस बात का संतोष है कि डिजिटल इंडिया ने उनकी पेंशन की राह आसान की है और यह देशभर के बुजुर्ग नागरिकों के बहुत काम आ रहा है। यही तो इस कार्यक्रम की बहुत बड़ी विशेषता है। https://t.co/XCJPAgOPjO