Regional Rural Bank Current Affairs, GK & News

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 National Bank for Agriculture and Rural Development (NABARD), the Government of Punjab and Punjab National ..

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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 processing of loans under the Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM). It ..

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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 is aimed at enabling RRBs that fail to meet prudential requirements relating to capital adequacy, ..

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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 difficult for commercial banks, even under government ownership, to lend to farmers. This issue was ..

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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 7% p.a. during the year 2012-13. A surplus interest subsidy of 3% p.a. will also ..

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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 99,999 as per 2001 census with certain conditions. The decision has been taken to increase ..

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