SME Times is powered by   
Search News
Just in:   • Avail additional reconstruction term loans for MSME sector: CII  • Trump's rebuke of WHO puts spotlight on chief Tedros' role  • Adani Gas reduces prices of CNG, Domestic PNG  • 'RIL may gain market share in oil & gas industry post Covid-19'  • Older entrepreneurs more successful than younger counterparts 
Last updated: 25 Mar, 2020  

bank-THMB.jpg CCEA okays Rs 1,340 cr recap of regional rural banks

Bank Logo generic
   Top Stories
» Avail additional reconstruction term loans for MSME sector: CII
» FIEO starts facility of digital certificate of origin for exporters
» Industry body calls for Rs 11 lakh crore package
» Stimulus worth $200-$300 bn needed to save economy
» Sensex logs biggest single-day gain of 2,476 pts
SME Times News Bureau | 25 Mar, 2020
The Cabinet Committee on Economic Affairs on Wednesday approved the recapitalisation of regional rural banks with total outlay of Rs 1,340 crore, to improve their capital adequacy during the coronavirus crisis.

Briefing the media after the cabinet meeting, Information and Broadcasting Minister Prakash Javadekar said that out of the total approved Rs 1,340 crore, the Central government will infuse Rs 670 crore and the rest would be put in by the state government and other sponsoring banks.

"#CCEA approves recapitalisation of Regional Rural Banks to improve their Capital to Risk Weighted Assets Ratio; approves utilisation of Rs 670 crore as Central Government share for the scheme," said a statement.

The decision comes a day after Prime Minister Narendra Modi announced a 21-day lockdown to control the spread of the coronavirus infection. Businesses and normal life across the country are likely to suffer and concerns have been raised about the flow of liquidity during the crisis period.

The government has off late announced a slew of measures to provide relief to the general public and businesses in terms of regulatory compliances, including deferment of deadlines for IT and GST return filings.

The government is also in the process of preparing an economic package to mitigate the impact of the crisis. On Tuesday, Finance Minister Nirmala Sitharaman, who is also heading the COVID-19 Economic Response Task Force, said that the package would be announced soon.

About 539 cases of the deadly infection have been confirmed in India and 10 deaths have been reported so far.



 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 09 Apr, 2020
  Daily Poll
Ease of doing business improved in last one year
 Yes
 No
 Can't say
  Commented Stories
» China's forex reserves reach USD 2.85 trillion(5)
» Late payment: RBI move not enough for SMEs(3)
» Digital learning firms likely to reap the most of lockdown(1)
» Private banks, NBFCs to continue EMIs, if not informed(1)
» Fund set up for MSMEs to tackle COVID-19 effects(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter