least 7% on 31 March 2011 and at least 9% from 31 March 2012 onwards. The recapitalization requirement of Rs 2,200.00 crore for 40 of the 82 RRBs were to be released in two installments in 2010–11 and 2011–12. The remaining 42 RRBs will not require any capital and will be able to maintain CRAR of at least 9% as of 31 March 2012 and thereafter, on their own. A fund of ₹100 crore to be set up for training and capacity building of the RRB staff. The Government of India approved the recapitalization of the RRBs to improve their CRAR in the following manner: Share of central government, that is, ₹1,100 crore will be released as per provisions made by the Department of Expenditure in 2010-11 and 2011–12. However, release of the funds will be contingent on proportionate release of the state government and sponsor bank share. A capacity building fund with a corpus of ₹100 crore to be set up by central government with NABARD for training and capacity building of the RRB staff in the institution of NABARD and other reputed institutions. The functioning of the fund will be periodically reviewed by the central government. An action plan will be prepared by NABARD and sent to the government for approval. An additional amount of ₹700 crore was set up as a contingency fund to meet the requirement of the weak RRBs, particularly those in the north-eastern and the eastern region. Organizational structure The organizational structure for RRB's varies from branch to branch and depends upon the nature and size of business done by the branch. The head office of an RRB normally had three to nine departments. The following is the decision making hierarchy of officials in a RRB. Board of Directors Chairman & Managing Director General Manager Assistant General Manager Regional Manager/Chief Manager Senior Manager Manager Officer Office Assistant Office Attendant Amalgamation RRBs periodically go through a process of amalgamation. In January 2013, 25 RRBs were amalgamated into 10 RRBs, totaling 67 RRBs. In March 2016, there were 56 RRBs, covering 525 districts with a network of 14,494 branches. As of 1 April 2020, there are 43 RRBs in India. Legal significance RRBs are recognized by the law and they have legal significance. The Regional Rural Banks Act, 1976 Act No. 21 Of 1976 [9 February 1976.] reads: List of Regional Rural banks There are 43