NEWS & ADVICE : FIXED DEPOSITS
Amalgamation brings down the number of RRBs to 82
By Neelima Shankar
Aug 25, 2010
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The total count of regional rural banks (RRBs) has come down to 82 from the previous figure of 196 as on March 2010. This reduction has resulted due to the amalgamation process of these banks which was introduced by RBI on 2005.

"In order to strengthen and consolidate RRBs, the government in 2005 initiated the process of amalgamation of RRBs in a phased manner. Consequently, the total number of RRBs has reduced from 196 to 82 as on March 31, 2010," Reserve Bank of India (RBI) said.

As many as 21 RRBs have adpoted core banking solutions (CBS) while the process is going on in the remaining RRBs, said RBI.

The recommendations of KC Chakraborty led committee on the financial status of these banks are uner examination, said RBI. The committee has recommended recapitalisation requirement of Rs 2,200 crore for 40 of the 82 RRBs.


 


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