A meeting of the Union Finance Ministry with the heads of all Regional Rural Banks is proposed on May 6 on the implementation of the strategy and merger of state-wise Regional Rural Banks. This information was given by a senior officer. The official said, ‘A national level RRB review meeting will be held under the chairmanship of M. Nagaraju, Secretary, Department of Financial Services (DFS) on May 6 at Vigyan Bhawan, New Delhi.’
The official said that the performance of RRBs in FY 25 will also be discussed in this meeting. The central government had issued a gazette on April 7 announcing the merger of several RRBs. It is effective from May 1, 2025. Under the powers conferred under Section 23A (1) of the Rural Regional Banks Act 1973, it was notified that these RRBs would be merged into a single entity in a State.
This new structure aims to improve the efficiency of RRBs and minimize their competition from their sponsoring public sector banks.
First Published – April 17, 2025 | 11:25 PM IST
