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Regional Rural Banks (RRBs) will be allowed to provide basic Internet banking facilities to its customers. At present, RRBs are not permitted to provide such facilities. The RBI guidelines has suggested that Internet banking facility is strictly for non-transactional services, such as balance enquiry, balance viewing, account statement download, request for supply of cheque books, etc. and no online fund-based transactions are allowed. RRBs providing such facilities must have a capital of over 10 per cent and networth of ₹100 crore as on March 31 of the immediate preceding financial year and must have no accumulated losses. The gross NPAs must be less than 7 per cent and net NPAs not more than 3 per cent, among other requirements.
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