Congress of the Philippines - Republic Act 7353 - Rural Bank Act


The Congress of the Philippines' Republic Act No. 7353 aims to promote comprehensive rural development with the end in view of attaining equitable distribution of opportunities, income and wealth, a sustained increase in the amount of goods and services produced by the nation of the benefit of the people, and expanded productivity as a key raising the quality of life for all, especially the underprivileged. Towards these ends, this act encourages and assists in the establishment of rural banking system designed to make needed credit available and readily accessible in the rural areas on reasonable terms. The law is divided into several chapters, and sets forth provisions on the following topics:

1. Monetary Board
2. Loans
3. Organization
4. Credit
5. Supplemental Capital
6. Supervision
7. Operations
8. Fees
9. Taxes
10. Sanctions and Penalties

Document Details

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Date of Document: 
Thursday, April 2, 1992
Document Authors: 
Congress of the Philippines
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