Two RRBs Record Over Rs 150-cr Profit in FY17: RBI

Of the 56 regional rural banks (RRBs), Karnataka Vikas Grameena Bank and Andhra Pragathi Grameena Bank recorded net profit of more than Rs 150 crore during 2016-17. These are among the 49 RRBs that recorded a profit in 2016-17.

According to the Reserve Bank of India’s ‘Report on Trend and Progress of Banking in India’, 45 of the 56 RRBs earned profits without carrying any accumulated losses during 2015-16.
Important Takeaways from Above News-
  • The first RRB of India is Prathama Bank located in Moradabad, Uttar Pradesh.
  • The three RRBs promoted by Syndicate Bank – Prathama Bank, Karnataka Vikas Grameena Bank, and Andhra Pragathi Grameena Bank.
Source- The Hindu Business Line

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