Payment and Settlement Systems & Regional Rural Banks Bills

Parliament has passed two Bills which seek to help regional rural banks raise their authorised capital and bring India’s banking payment system in sync with international practices.

The bill to amend the Regional Rural Banks Act seeks to help Regional Rural Banks raise their authorised capital and will enable them to mop up funds from capital market to help strengthen them.

The Payments and Settlement Systems (Amendment) Bill seeks to address the problem of insolvency in the payment and settlement system by increasing transparency and stability and bring India’s banking payment system in sync with international practices.

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