Finance Minister Nirmala Sitharaman said on Friday that Regional Rural Banks (RRBs) should continue to focus on Central government flagship schemes such as PMJJBY, PMSBY, PM SVANidhi, Atal Pension Yojana, PM Jan Dhan Yojana, PM Mudra Yojana, KCC, KCC Animal Husbandry & Fisheries, and aim for saturation.
Sitharaman, who chaired a review meeting with the chairs and top executives of RRBs from the southern region in Chennai, stated that RRBs and sponsor banks should enhance their current and savings account (CASA) ratio.
Sitharaman also emphasized RRBs’ CD ratio, gross NPAs, and provision coverage ratio (PCR).
The secretary of the Department of Financial Services (DFS), senior RBI officials, and senior finance department officials from Tamil Nadu, Andhra Pradesh, Telangana, Kerala, Puducherry, and Karnataka attended the meeting.
“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 following the meeting in a tweet.
The minister further stated that sponsor banks should map RRBs with MSME clusters and strengthen their presence in these clusters, while developing innovative products to better assist MSMEs.
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