New Delhi: The Finance Ministry on Friday urged Regional Rural Banks to further improve their performance in achieving financial inclusion and credit delivery in rural areas.
During the financial review meeting of RRBs, Department of Financial Services (DFS) Secretary Vivek Joshi discussed their viability plans as some of these RRBs are loss-making.
The meeting at Pune was also attended by senior officials of DFS, Reserve Bank, National Bank for Agriculture and Rural Development (NABARD), senior officials of sponsor banks, and chairpersons of RRBs.
Joshi expressed satisfaction at the progress achieved by the RRBs on different operational parameters consequent to the infusion of recapitalisation funds by the government of India, the finance ministry said.
He exhorted all of them to strive for further improvement in their performance so that the government’s efforts towards financial inclusion and improving credit delivery in rural areas are implemented successfully.
These banks were formed under the RRB Act, 1976 with an objective to provide credit and other facilities to small farmers, agricultural labourers and artisans in rural
areas.