Initial investigations have revealed that the online transaction systems of the banks which suspended withdrawals were manipulated.
June 24, 2022RBAP president Albert Concha says higher capital requirements proposed by BSP will cause rural bank closures and stunt financial inclusion initiatives.
June 8, 2022Bank customers in Henan province are demanding the return of billions of dollars of deposits after finding they were unable to withdraw their funds.
May 30, 2022The guidelines set out options to strengthen the rural banking sector, including through mergers, acquisitions or third party investment.
May 12, 2022Customers of multiple rural banks complained that banking service disruptions have prevented them from withdrawing their money.
May 9, 2022The BSP says higher capital requirements will enable rural banks to enhance risk management, upgrade resources, and accelerate digital transformation.
April 28, 2022Rural cooperative banks can raise capital by issuing preference shares, perpetual debt instruments or long term subordinated bonds.
April 25, 2022As of end-June 2021, there were over 3,000 rural banks nationwide. However, only 21 of them offer PESONet and 11 offer InstaPay for electronic fund transfer services.
December 8, 2021Indonesia’s OJK has launched a five year development roadmap for the country's rural banks and Sharia rural banks.
December 6, 2021City Commercial Banks Clearing Company and the Rural Credit Bank Funds Clearing Centre have launched “one point integration” digital yuan systems.
August 22, 2021