Business Daily from THE HINDU group of publications
Friday, Jul 13, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Jul 13, 2007 ePaper |
|
|
|
|
|
|
|
Money & Banking
-
Regional Rural Banks Meet to review performance of regional rural banks
Our Bureau Kolkata, July 12 The Union Finance Minister, Mr P. Chidambaram, will shortly hold a meeting of the Chairmen of 96 Regional Rural Banks (RRBs) to review the performance of these banks. The senior officials of the National Bank for Agriculture & Rural Development and Reserve Bank of India will also be present. The RRBs, present in the country’s 535 districts with a total branch network of 14,519 including 11,544 rural, posted a net profit of Rs 790 crore in 2006-07 on a total business of more than Rs 1,31,000 crore. However, the accumulated loss amounted to Rs 2,600 crore and the negative net worth Rs 1,700 crore. It might be recalled that the Finance Minister had met the RRBs Chairmen in January this year. It transpired at the meeting that the Government was opposed to forming any national rural bank as demanded by the All India Regional Rural Bank Employees Association. Also, there would be no further consolidation of the RRBs till a proper assessment had been made of the consolidation that had already taken place. The number of RRBs has been brought down to 96 from the earlier 196 through consolidation. The merger of the RRBs with their sponsoring banks was also ruled out.
More Stories on : Regional Rural Banks
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|