Business Daily from THE HINDU group of publications
Tuesday, Jul 17, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 17, 2007 ePaper |
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Money & Banking
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Regional Rural Banks Reaching nook and corner
Our Bureau New Delhi, July 16
Regional rural banks were set up to provide professionally managed banking services to small farmers and weaker sections of society in rural areas. They were to retain the feel for local issues and problems while complementing the efforts of their sponsor banks to take banking to remote areas. The Central Government, State Government and the sponsoring bank (commercial banks) contributed to the capital in the proportion of 50:15:35. As of March 2006, there were 133 regional rural banks (down from 196, following a series of amalgamations in the previous year). Of these, 111 were profit-making while 22 were loss-making banks. In all, the133 banks notched up a net profit of Rs 510 crore on a total income of Rs 5,599 crore. These banks had a deposit base of Rs 71,329 crore and loans of Rs 38,520 crore.
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