The Hindu : Andhra Pradesh / Hyderabad News : ‘RRBs should look for new business’

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Friday, Oct 03, 2008
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Andhra Pradesh

Andhra Pradesh - Hyderabad

‘RRBs should look for new business’

HYDERABAD: The financial inclusion of new customers in rural areas is a new opportunity for Regional Rural Banks to improve their business, said Reserve Bank of India General Manager R. K. Tandon here on Thursday.

Inaugurating a seminar on ‘Challenges of Financial Inclusion – Role of RRBs’, he lauded the RRBs in the State for achieving 100 per cent target for opening ‘No frills accounts’ in eight districts and 75 per cent in seven districts. The banks should take the next step of simplifying the documentation process which was deterring the common man to approach them for financial assistance.

NABARD Chief General Manager S.R.Aluru said RRBs were identified by rural people as their household banks. The banks should encourage rural youth trained in IT in creating new business opportunities in multimedia and animation sector. All India Regional Rural Banks Employees Association (AIRRBEA) general secretary Dilip Kumar Mukherjee demanded the Government to release Rs.12,000 crore debt waiver amount to RRBs.

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Andhra Pradesh