Currently, there are 43 RRBs supported by a dozen public sector banks with 21,856 branches. The government has maintained that consolidation among RRBs has led to better efficiency, increased productivity, and greater credit flow to rural areas. As per the initial roadmap, the plan was to consolidate the number of regional lenders to 38, the official added. Under the viability plan created for each regional lender, the focus is to tap credit potential for MSMEs and put greater thrust on growing the network of rural branches in cluster areas.
February 24, 2021
‘Plan to become zero-debt company in near future’
Stove Kraft Limited, maker of branded kitchen appliances, has posted ₹33.5 crore profit for the third quarter (Q3) of FY 2020-21 against ₹8.9 crore posted last year.
The company’s Q3 revenues were higher by 47 per cent at ₹294.7 crore compared to ₹200.4 crore in the same period last year.
Commenting on the company’s performance, Rajendra Gandhi, Managing Director, said, “Despite challenging times this year, the company has managed to deliver stellar results on the back of volume growth led by a good festival season, operational efficiencies, better product mix and cost rationalisation programmes.