RRB (Amendment) Bill increases RRB authorised capital to INR 2000 crore

Q.  As per the Regional Rural Banks ( Amendment) Bill, 2014 passed in Rajya Sabha on 28th Apr’15, the bill seeks to raise the authorised capital of Regional Rural Banks (RRBs) from five crore to _______ Rupees.
- Published on 13 Apr 15

a. 100 Crore
b. 50 Crore
c. 500 Crore
d. 2000 Crore

ANSWER: 2000 Crore
 
This Amendment also enables them to mop up funds from the capital market. Dismissing apprehensions that the amendments are a way to privatise these banks, the Minister of State for Finance said that there are enough safeguards in the bill. He said under the present system, the Centre has a 50 percent share, the sponsor Bank 35 per cent and state government 15 per cent shareholding in the RRBs. He said, in no case, the share holdings of the Centre and Sponsor Bank will be allowed to go less than 51 percent.

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