Forty of 50 cooperative banks in Uttar Pradesh hit by fraud; loan amounts forged, subsidy money siphoned off
More than 50 percent of the rural credit is disbursed by the co-operative banks and the National Bank for Agriculture & Rural Development (NABARD) is responsible for the regulation and supervising of the functions of these banks.
Govt issues minimum FDI requirement for unregistered financial services entities
The minimum FDI capital is $20 million for unregistered/exempted entities engaged in 'fund based activities'.
Low formal credit reach to keep most farmers off loan waivers, says report
Institutional credit is skewed in favour of households with higher decile classes of asset holding,
RBI allows rural banks to open branches in tier 2 cities without approval
To enhance banking services in the rural areas, Reserve Bank allowed regional rural banks (RRBs) to open branches in tier 2 cities without taking its permission.
RBI committee to strengthen rural credit structure
The Reserve Bank constituted a committee to suggest ways to strengthen the rural cooperative credit structure in the country.