Govt to infuse Rs 900 crore in RRBs
Government on Wednesday decided to strengthen 27 Regional Rural Banks spread across 15 states by infusing fresh capital amounting to about Rs 900 crore.
By PTI |
NEW DELHI: Government on Wednesday decided to strengthen 27 Regional Rural Banks spread across 15 states by infusing fresh capital amounting to about Rs 900 crore.
"The total amount of re-capitalisation for the 27 RRBs having negative networth has been assessed at Rs 1,795.97 crore. In view of the 50 per cent stake of the Centre, its contribution will be Rs 897.98 crore towards their re-capitalisation," Finance Minister P Chidambaram told reporters after the meeting of Cabinet Committee on Economic Affairs (CCEA) here.
The re-capitalisation funds will be released to the RRBs along with the contribution of respective state governments and sponsor banks, he said.
"Re-capitalisation would improve the viability of the RRBs having negative networth," Chidambaram added.
"The total amount of re-capitalisation for the 27 RRBs having negative networth has been assessed at Rs 1,795.97 crore. In view of the 50 per cent stake of the Centre, its contribution will be Rs 897.98 crore towards their re-capitalisation," Finance Minister P Chidambaram told reporters after the meeting of Cabinet Committee on Economic Affairs (CCEA) here.
The re-capitalisation funds will be released to the RRBs along with the contribution of respective state governments and sponsor banks, he said.
"Re-capitalisation would improve the viability of the RRBs having negative networth," Chidambaram added.
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