21 Regional Rural Banks amalgamated, says government


A roadmap for amalgamation of RRBs within a state was prepared in consultation with NABARD, Minister of State for Finance Anurag Singh Thakur said in a written reply. (PTI)

As many as 21 RRBs have been amalgamated based on the comments from respective sponsor banks and state governments, Minister of State for Finance Anurag Singh Thakur said in the Lok Sabha.

With a view to enable the Regional Rural Banks (RRBs) to minimize their overhead expenses, optimise the use of technology, enhance the capital base and area of operation and increase their exposure, a roadmap for amalgamation of RRBs within a state was prepared in consultation with NABARD, he said in a written reply.

The roadmap proposes to bring down the number of RRBs to 38 from 56, he said.

In reply to another question, the minister said the Reserve Bank of India (RBI) has informed that as on March 31, 2019, 1,288 cases related to unauthorised deposit collection were discussed in State Level Coordination Committee (SLCC) meetings.

The Sachet portal of RBI, the online platform for SLCCs that facilitates the public to lodge complaints of financial frauds, has received 5,225 complaints (since the launch of the portal in August 2016) related to non-repayment of deposits and money collected for various kinds of Investment Schemes, he added.

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