Nirmala Sitharaman chaired a meeting to review performance of 10 Regional Rural Banks of the Southern Region, covering the 5 states of Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana and UT of Puducherry, in Bengaluru.
Union Minister of State for Finance Shri Pankaj Chaudhary; Secretary, Department of Financial Services (DFS) Shri M. Nagaraju; ED, RBI; Chairpersons of RRBs and sponsor banks; Additional Secretary, DFS, representatives of NABARD and SIDBI and other senior officers of participating states and UT were also present during the meeting.
The meeting, with 10 RRBs present, focused on business performance, upgrading digital technology services, and fostering business growth in activities allied to agriculture and micro and small industry. Given the crucial role of RRBs in supporting the rural economy, the Union Finance Minister urged RRBs to increase credit disbursement under various Government of India flagship schemes such as MUDRA, PM Vishwakarma, etc, with the active support of their sponsor banks.
Smt. Sitharaman directed RRBs to increase their share in ground level agriculture credit disbursement with special focus on allied agriculture activities like dairy, animal husbandry, fisheries etc, and to take necessary steps to realise the full potential of allied agriculture activities in the region. RRBs and sponsor banks were specially directed to work with respective state government departments to increase credit disbursement to fisheries sector in Kerala and dairying sector in Telangana.
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