Centre asks IBA to ready EASE-like plan for RRBs

Centre has asked the Indian Banks’ Association (IBA) to prepare a viability plan for regional rural banks (RRBs) similar to the Enhanced Access and Service Excellence (EASE) for public sector banks (PSBs)

The IBA has been asked to conduct workshops for discussing the issues regarding preparation of a viability plan for the regional banks, said an official.

At a review meeting between Finance Minister Nirmala Sitharaman and RRB chiefs last month, these lenders were asked to submit a road map with implementation timelines for scaling up operations and ensuring deeper penetration.

At a later date, a meeting with stakeholders would be held for finalising a viability plan for each of the 43 RRBs.Towards this, the Centre has roped in the IBA since it has been undertaking the EASE reforms for PSBs.

The bank’s lobby group has been asked to assist with the preparation of the viability plan for RRBs.It is to be done in consultation with National Bank for Agriculture and Rural Development (NABARD), sponsor banks and regional lenders.