Modi Government's Recapitalization of Regional Rural Banks (RRBs)
| Aspect | Details |
|---|---|
| Announcement Date | March 6, 2024 |
| Allocated Amount | Rs 6212.03 crore |
| Purpose | Recapitalization of Regional Rural Banks (RRBs) |
| Established | 1975 |
| Ownership | Indian Government |
| Objective | Provide banking and financial services to rural regions, focusing on small farmers and businesses |
| CRAR | 13.83% (as of December 31, 2023) |
| Net Profit FY22-23 | Rs 4,974 crore |
| Net Profit Q3 FY23-24 | Rs 5,236 crore |
| Credit-Deposit Ratio | 72.13% (as of September 30, 2023) |
| Viability Plan (VP) | 3-Year plan initiated in FY22-23 |
| Number of RRBs | 43 |
| Sponsored by | 12 scheduled commercial banks |