RRB employees' pay scales brought on par withpeers in nationalised banks

26 Jul 2010

1

Employees of regional rural banks (RRBs) will get wages on par with their counterparts in nationalised banks, as per the ninth bipartite settlement.

This would involve an additional cost to the government of about Rs791 crore on the arrears account alone, finance minister Pranab Mukherjee said today.

Addressing the annual review meeting of chairmen of RRBs and general managers of sponsor banks in New Delhi, Mukherjee asked the RRBs to bring their non-performing assets (NPAs) below 5 per cent by this year itself.

Besides, the finance minister asked the RRBs to speed up branch expansion and extension of core banking to all their branches.

He emphasised the need for using new technology, including business correspondents, mobile banking vans, tele-banking etc to provide banking services to the entire population of the country, especially in the rural areas.

The government had initiated a series of measures in recent years to strengthen the RRBs and enable them to meet the financial needs of the rural population.

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