The Union Finance Minister ShriPranab Mukherjee
proposed to extend the scheme of capitalization of financially weak RRBs
by another 2 years to enable all the States to contribute their share.
Announcing this during his Budget speech, Shri Mukherjee informed that
the process of capitalization of financially weak RRBs has been
completed in respect of 12 RRBs by the end of February, 2012.
The Finance Minister Shri Mukherjee also informed that of the 82 RRBs in
India, 81 have successfully migrated to Core Banking solutions (CBS)
and have also joined the national Electronic Fund Transfer system.
