Finance minister asks regional rural banks to focus on flagship schemes
1 min read 04 Aug 2023, 07:43 PM ISTNirmala Sitharaman said RRBs should continue their focus on flagship schemes of the Central government such as PMJJBY, PMSBY, PM SVANidhi, Atal Pension Yojana, PM Jan Dhan Yojana, PM Mudra Yojana, etc.
PremiumNew Delhi: Finance minister Nirmala Sitharaman on Friday said that Regional Rural Banks (RRBs) should continue their focus on flagship schemes of the Central government such as PMJJBY, PMSBY, PM SVANidhi, Atal Pension Yojana, PM Jan Dhan Yojana, PM Mudra Yojana, KCC, KCC Animal Husbandry & Fisheries, and aim for their saturation.
Chairing a review meeting with chairpersons and senior officials of RRBs from the southern region in Chennai, Sitharaman said that RRBs and sponsor banks should improve their current and savings account (CASA) ratio.
Sitharaman also highlighted the CD ratio, gross NPAs, and provision coverage ratio (PCR) of RRBs.
The meeting was attended by secretary, Department of Financial Services (DFS), senior RBI officials and senior finance department officials of Tamil Nadu, Andhra Pradesh, Telangana, Kerala, Puducherry and Karnataka.
"The Union Finance Minister stated that better adoption of technology, Loan Management System and Core Banking System should be done in a time-bound manner in the #RRBs of the Southern region," the finance ministry said in a tweet after the meeting.
The finance minister also said that RRBs should focus on increasing digitally active customers in line with the government’s effort to move towards greater digitalisation.
The minister added that the sponsor banks should map RRBs with MSME clusters and improve their presence in these clusters, while devising innovative products for serve MSMEs in a better way.
