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Strong RRBs can now offer internet banking

Reserve Bank of India has allowed strong RRBs to launch internet banking and undertake online transaction. The central bank said profitable RRBs with minimum Rs 100 crore networth and better asset quality can offer the service to its customers. It said with a view to enhancing customer service and taking into account demand for such services, it has been decided to allow RRBs to extend the facility of internet banking to their customers. Banks with capital adequacy ratio over 10% will be allowed to introduce the online transaction services. They need to have their gross NPA ratio less than 7% and their net NPA should not exceed 3%. The bank should have made a net profit in the immediate preceding financial year and overall, should have made net profit at least in three out of the preceding four financial years, RBI said. Weak banks will be allowed to offer view only internet services.

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