FM Sitharaman holds review meeting of Regional Rural Banks of Southern Region in Chennai

Chennai: Union Finance Minister Nirmala Sitharaman chaired a meeting with Chairpersons and senior officials of Regional Rural Banks (RRBs) from Southern Region in Chennai yesterday. The discussions centered on the financial performance of RRBs, with the Secretary, Department of Financial Services, Vivek Joshi making a presentation on different financial metrics of the RRBs.

The Union Finance Minister emphasized the need for timely implementation of technology, Loan Management System and Core Banking System in the RRBs of the Southern Region. She urged Sponsor Banks to establish a strong link between RRBs and MSME



clusters and enhance their reach in these areas. She also advised RRBs to collaborate closely with RBI and State Authorities to improve their physical presence across the state.

The meeting was attended by senior officials of the RBI, Finance Secretary of Tamil Nadu T. Udhayachandran, Secretaries and senior officers from Finance Ministries of Andhra Pradesh, Telangana, Kerala, Puducherry and Karnataka. The Managing Directors and CEOs of State Bank of India, Indian Bank, Union Bank of India, Canara Bank, Indian Overseas Bank and NABARD also took part in the discussions.