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Gramin Banks to Reach the ₹ 11 Trillion Business Poised for Record Profits
Gramin Banks are set to achieve a major financial milestone, targeting Rs. 11 trillion in business for FY 2023-24. Despite record profits, these Regional Rural Banks (RRBs) continue to face significant operational challenges, including staff shortages and delayed implementation of the 12th Bipartite Settlement benefits.

Author: Saurav Kumar
Published: April 23, 2024
Regional Rural Banks (RRBs) are set to achieve remarkable financial results in the fiscal year 2023-24. According to unaudited data from all 43 RRBs, the total business target is Rs. 11 trillion (approximately Rs. 11,24,697 crore), signalling a major milestone.
The provisional data suggests a promising Year-On-Year (Y-O-Y) growth story for Gramin Banks, despite operating under significant stress and facing numerous challenges, such as staff shortages and operational hurdles.
Signs of Strong Performance
According to the unaudited figures, key performance indicators like net profit and deposits are projected to rise. Additionally, the number of RRBs reporting profits is anticipated to increase, while net Non-Performing Assets (NPAs) are on track for a significant drop in the fiscal year 2023-24. This underscores the crucial role of Gramin Banks in the financial landscape.
Image: Unaudited Data of FY 2023-24
Image Source: AIRRBEA
In the NPA category, Utkal Grameen Bank has shown a reduction in both Net and Gross NPAs, with the bank expected to achieve a 0% net NPA rate. Although the final audited data could lead to minor adjustments, these figures indicate a robust performance trajectory for Gramin Banks in the coming year.
Exceeding Past Records
Gramin Banks are on course to surpass the financial achievements of previous years, based on the current trajectory of available data.
Comparative figures from fiscal years 2021-22, 2022-23, and the tentative numbers for 2023-24 indicate a significant breakthrough, with Gramin Banks recovering from a period of consistent losses. Reports suggest that the number of RRBs operating at a profit has steadily increased since 2021, with the count expected to reach 40 this year. Only three RRBs are projected to record losses, demonstrating a substantial improvement.
PARAMETERs | FY 2021-22 (figures in crore) |
FY 2022-23 (figures in crore)
|
FY 2023-24 (TENTATIVE) (figures in crore)
|
Deposits | ₹ 5,62,538 crore | ₹ 6,08,509 crore | ₹ 6,53,218 crore |
Net Profit | ₹ 3,219 crore | ₹ 4,974 crore | ₹ 6,000 crore |
Number of RRBs in Profit | 34 | 37 | 40 |
Total Business | ₹ 9,25,376 crore | ₹ 10,19,247 crore | ₹ 11,24,697 crore |
Image: Yera-on-Year Comparative Performance of RRBs
Data Source: NABARD and AIRRBEA
Neglect Despite Impressive Results
Despite their remarkable performance in FY 2022-23, Gramin Banks have raised allegations of significant discrimination and demand equitable treatment in line with sponsor banks. Some of the key grievances include the non-implementation of 12th BPS benefits, extensive vacancies, inadequate working conditions, and delayed digital onboarding.
To address these ongoing disparities, Gramin Bank employees turned to the social media platform X, where the hashtag #Justice4GraminBankers gained traction, demanding justice and rallying substantial support, even from some sponsor bank employees. This online movement underscores the growing discontent and calls for more equitable treatment of RRB staff and officers.