The meeting is proposed on 6 May on the implementation of strategy with heads of all regional rural banks of the Union Finance Ministry on 6 May. This information was given by the senior officer. “On May 6, there will be a review meeting of the national level RRB under the chairmanship of M. Nagaraju, Secretary, Department of Financial Services (DFS),” the official said.
The official said that the performance of RRB in FY 25 will also be discussed in this meeting. The Central Government had issued a gazette for the announcement of merger of several RRBs on 7 April. This is applicable from May 1, 2025. The powers given under Article 23A (1) of the Rural Regional Bank Act 1973 were notified that these RRBs would be merged as a unit in a state.
The goal of this new structure is to improve the efficiency of RRB and their sponsors are to minimize their competition from public sector banks.
First Published – April 17, 2025 | 11:25 pm IST
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