Cabinet nod to Rs 700-crore additional funds for RRBs

By: | Updated: July 17, 2015 12:16 AM

The Cabinet on Thursday approved additional R700 crore for recapitalisation of weak Regional Rural Banks (RRBs) and extended...

The Cabinet on Thursday approved additional Rs 700 crore for recapitalisation of weak Regional Rural Banks (RRBs) and extended the validity period for the fund infusion to next fiscal.

These banks are unable to maintain their minimum Capital to Risk weighted Assets Ratio (Crar) of 9%, finance minister Arun Jaitley said. This decision will help them improve this ratio, he said. Presently, there is a Budget provision of Rs 15 crore for recapitalisation of RRBs. Among other decisions, the Cabinet gave its nod for the second phase of eCourts Mission Mode Project at an estimated cost of R1,670 crore.

In Phase I of the project more than 13,000 District and Subordinate courts have been computerised and case information linked to the respective District court websites.

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