CCEA approves recapitalisation of 27 regional rural banks

New Delhi, Jan 30 : The Cabinet Committee on Economic Affairs (CCEA) today gave its approval for recapitalisation of 27 regional rural banks (RRBs) whose net negative worth is assessed at Rs 1,796 crore.

The Central Government will contribute Rs.897.98 crore towards recapitalisation of the RRBs.

The amount will be released to the RRBs along with the contribution by the State Government and the respective sponsor bank, a government release said.

Recapitalisation would improve the viability of RRBs, the release added.

ANI