To carry and engage in the business of extending rural credits to small farmers and fishermen and provide financing to deserving micro, small, medium enterprises; to have and exercise all authority and powers, to do and perform all acts, and to transact all business which may legally be had or done by rural banks organized under and in accordance with RA No. 7353 (Rural Banks Act of 1992) as it exists or may be amended; and to do all other things incident thereto  and necessary and proper in connection with said purposes within such territory, as may be determined by the Monetary Board of the Bangko Sentral ng Pilipinas.