Representative image of RRB

Photo: Banking Frontiers

Regional Rural Banks Face 3 Times Higher Loss Than Previous Fiscal Year

National Bank for Agriculture and Rural Development informed that Regional Rural Banks faced a net loss of Rs 2,206 crore in fiscal year ended March, 2020. Reportedly, the loss is 3.38 times higher than FY19, which was Rs 652 crore. It also revealed RRBs witnessed a growth of 8.6% in their business as compared to 9.5% in FY19 and their outstanding loans stood at Rs 2.98 lakh crore for FY20.

Sun, 04 Oct 2020 - 03:28 PM / by Mahadevan K V

Tags: NABARD, RRB, Loans, Debts

Courtesy: Deccan Herald