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Home»Business»Draft norms for RRB listing: Minimum net worth of Rs 300 cr
Business

Draft norms for RRB listing: Minimum net worth of Rs 300 cr

October 4, 2022No Comments2 Mins Read
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Regional rural banks (RRBs), which play a vital function in credit score disbursement in distant areas, can be eligible to listing on inventory exchanges and lift funds if they’ve web value of not less than Rs 300 crore over the earlier three years and in the event that they fulfil sure different standards.

As per the draft tips issued by the Finance Ministry, such banks should even have a capital adequacy of 9 per cent in every of the earlier three years and recorded working revenue of not less than Rs 15 crore for no less than three out of the previous 5 years. There shouldn’t be any accrued loss and the RRB ought to have provided not less than 10 per cent return on fairness in three out of the earlier 5 years, in line with the norms.

The rules come after Finance Minister Nirmala Sitharaman in July requested the Division of Monetary Providers and sponsor banks to formulate a transparent roadmap to additional strengthen the RRBs in a time-bound method and assist the post-pandemic financial restoration, given their essential function in boosting credit score stream in rural India. The Indian Banks’ Affiliation (IBA) was requested to take the initiative to make sure technological developments at RRBs, which is a key prerequisite to modernising them.

Underneath the brand new norms, sponsor banks have been requested to establish the RRBs which are eligible for itemizing. The sponsors may also need to consider related guidelines and rules floated by each inventory market and banking regulators — Sebi and RBI — with regard to capital elevating and disclosure necessities once they zero in on eligible RRBs.



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