Union Government amalgamates Punjab Gramin Bank, Malwa Gramin Bank and Sutlej Gramin Bank into a single RRB

The Government of India (GoI) has amalgamated three Regional Rural Banks (RRB) — Punjab Gramin Bank, Malwa Gramin Bank and Sutlej Gramin Bank — into a single RRB with effect from January 1. The sponsor banks of the RRBs are ..

Government launches PAISA Portal under Deendayal Antyodaya Yojana – National Urban Livelihoods Mission

Union Ministry of Housing and Urban Affairs launched ‘PAiSA’ – Portal for Affordable Credit and Interest Subvention Access during National Workshop on Municipal Finance and Urban Planning held in New Delhi. PAISA Portal It is centralised electronic platform for quicker ..

Month: Current Affairs - November, 2018

Prompt Corrective Action framework developed by NABARD for RRBs

The National Bank of Agriculture and Rural Development (NABARD) has come out with a ‘Prompt Corrective Action (PCA) Framework’ framework for regional rural banks (RRBs). This is similar to the one unveiled by RBI for schedule commercial banks. This framework ..

Regional Rural Banks

The nationalization of the banks in 1969 boosted the confidence of the public in the Banking system of the country. However, in the early 1970s, there was a feeling that even after nationalization, there were cultural issues which made it ..

Union Cabinet’s approval to interest subsidy for farmer loans

The Union Cabinet has given its approval to continue interest subsidy to Public Sector Banks (PSBs), Regional Rural Banks (RRBs), Cooperatives Banks and NABARD allowing them to grant short-term crop loans of up to Rs 3 lakhs to farmers at ..

Month: Current Affairs - September, 2012

RRBs can launch branches in Tier-II cities without RBI permission

The RBI has allowed Regional Rural Banks (RRBs) to open branches in Tier-II cities without asking for permit.  As per a notification by RBI, RRBs would be allowed to launch branches in Tier-II cities with a population of 50,000 to ..

Month: Current Affairs - August, 2012

Farmers to avail loans directly from commercial banks

Farmers in Maharashtra who are yet to obtain loans from cooperative banks can now expect them from commercial banks. The state govt will soon take measures to assist Regional Rural Banks (RRBs) utilize the infrastructure of primary agriculture cooperative societies, ..

Month: Current Affairs - June, 2012

Union Cabinet approves Rs 632 crore capital infusion in RRBs

Government approved capital infusion of Rs 632 crore in some RRBs (Regional Rural Banks). Objective: To improve CRAR [Capital to Risk (Weighted) Assets Ratio] for RRBs. Thus to improve their capital adequacy and lending capacity to the agriculture sector. Adopting ..

Month: Current Affairs - June, 2012

Category: Government Schemes Current Affairs

Rural banks told to double home loan limit for priority sector

The RBI has demanded all RRBs (Regional Rural Banks) to double the limit for home loans to Rs 10 lakh from Rs 5 lakh for lending for the Priority Sector. The increment in the limit will be applicable for the ..

Month: Current Affairs - April, 2012

History of Reserve Bank of India

Prior to RBI, all the functions of a central bank were being done by Imperial Bank of India. Imperial Bank of India was established in 1921 via the Imperial Bank of India Act, 1920 which amalgamated three Presidency Banks into ..