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Govt Says 21 Regional Banks Consolidated After Consultation with NABARD
July 10, 2019
Minister of State for Finance Anurag Singh Thakur said that around 21 regional rural banks or RRBs have been merged based on the inputs provided by the state governments and sponsor banks. He said that the aim is to minimize the overhead expenses, upgrade the capital base, and optimize the use of technology for the RRBs.
Thakur said that a roadmap for the improvement of RRBs was formed with the help of NABARD. Under the plan, the number of RRBs are expected to be brought to 36 from existing 56.
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