Illustratively, RRBs have been permitted to participate in NEFT through the Sponsor bank route. Is there a need to extend the contours of this policy to Urban Co-operative Banks is something the Reserve Bank will examine.
During the period ended April 2010, the sector’s assets stood at Kshs.1.5 trillion, with gross loans and advances at Kshs.799.5 billion. Deposits increased to Kshs.1.1 trillion supported mainly by branch expansion, receipts from exports and remittances from abroad.