Government asks RRBs to expand their portfolios

10pointer27 Oct, 2022Education

10POINTER- In order to provide credit to rural consumers, the government is planning to leverage the 15,000-odd strong network of the 43 Regional Rural Banks (RRBs) in the country by asking them to expand their portfolio by adding new segments. Where would the extended credit go? The proposed mandate will require RRBs to go beyond their mainstay of agricultural loans to extending credit for education, housing and even small businesses in rural India. The initiatives and targets will be part of the Enhanced Access & Service Excellence (EASE) reforms being undertaken by the Centre. EASE reforms were launched in 2018 for the public sector banks and are currently in their fifth phase.