RRB to be set up in Puducherry: Cabinet

New Delhi, Mar 7 (UNI) The Centre today approved the release of its share of 50 per cent (Rs 50 lakh) for setting a Regional Rural Bank (RRB) in Puducherry with sponsorship from Indian Bank.

The decision would assist in expanding the network ofRRBs in uncovered areas, Information and Broadcasting Minister Priya Ranjan Dasmunsi told reporters.

The issued capital of each stand-alone RRB is Rs one crore and accordingly the proposed issued capital of the RRB to be established in Puducherry would be Rs one crore.

UNI SN YA PM1929