In its Green Paper on the post-FSAP strategy, the European Commission identified this area as one requiring initiatives to foster integration, and it plans to issue this summer a separate Green Paper on integration of European mortgage markets. But before turning to the broader subject of the post-FSAP strategy, let me focus for a while on the field of securities markets and regulation.
RRBs are jointly owned by the Government of India, the concerned State government and sponsor banks, with the issued capital shared in the proportion of 50 percent, 15 percent and 35 percent, respectively. As per the provisions of the Regional Rural Banks Act, 1976 the authorized capital of each RRB is Rs. 5 crore and the issued capital is a maximum of Rs.