FinMin allows RRBs to raise funds via IPO, rights issue

FinMin allows RRBs to raise funds via IPO, rights issue: The government has issued a detailed draft of the guidelines for Regional Rural Banks (RRBs) to raise capital and putting the onus for identifying eligible RRBs on their sponsor banks.

September 2022 Current Affairs Quiz

RRBs are planning to make an initial public offering to raise capital must have at least Rs 300 crore of net worth for the previous three years. They should also have their capital adequacy above the regulatory minimum level of 9%.

Total existing Regional Rural Banks: 43