November 2012 Current Affairs

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The ‘NH-4 Bank’ plans to become pan-India player

Which Bank in India is often imagereferred to as the ‘NH-4’ Bank ?

  • The Ratnakar Bank is often referred to as  the ‘ NH4 Bank’ in the banking circles, .
  • Reason: As majority of the business of Ratnakar Bank comes from cities in and around the 1,235-km-long National Highway-4 (NH-4) that connects four of the 10 most populous cities in India.
  • The Kolhapur based private bank will keep serving the local community of traders, small businessmen and farmers while it now aims to become a pan-India player.

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19 RRBs merged into 8; now 71 left

The government has merged 19 Regional Rural Banks (RRBs) into 8 entities. All this happened in spite of reservations by RBI. The Govt plans to merge more RRBs this financial year.

RBI was not happy with this decision as the Finance Ministry didn’t took RBI into loop while making this decision.

At present the numbers are as follows:

  • RRBs = 71
  • PSBs = 26

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