Cabinet approves extension of Scheme of Recapitalization of Regional Rural Banks upto 2019-20
New Delhi, July 4 (IBNS): The Union Cabinet chaired by Prime Minister Narendra Modi has approved the extension of the scheme of recapitalization of Regional Rural Banks (RRBs) for the next three years i.e. upto 2019-20.
This will enable the RRBs to maintain the minimum prescribed Capital to Risk Weighted Assets Ratio (CRAR) of 9 percent, read a government statement.
A strong capital structure and minimum required level of CRAR will ensure financial stability of RRBs which will enable them to play a greater role in financial inclusion and meeting the credit requirements of rural areas.
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