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Business EconomyPosted at: Apr 8 2025 8:31PM


Centre notifies merger of 26 regional rural banks

New Delhi, Apr 8 (UNI) The Union Finance Ministry has notified the merger of 26 Regional Rural Banks (RRBs) on the principles of “One State, One RRB”.
This is the fourth phase of consolidation of RRBs.
The Ministry of Finance had rolled out an amalgamation plan in November 2024 for consultation with stakeholders. After consultation with stakeholders, the amalgamation of 26 RRBs in 10 states and one union territory has been carried out with a primary focus on improvement in scale efficiency and cost rationalisation.
At present, 43 RRBs are functioning in 26 states and 2 UTs. Post-amalgamation, there will be 28 RRBs in 26 states and 2 UTs with more than 22,000 branches covering 700 districts. Their predominant area of operation is in rural areas, with about 92% of branches in rural/semi urban areas.
"This is the fourth phase of amalgamation. In the previous three phases viz. Phase-I (FY 2006 to FY 2010) number of RRBs were reduced from 196 to 82, Phase-2 (FY 2013 – FY 2015) number of RRBs were reduced from 82 to 56 and Phase-3 (FY 2019 to FY 2021) number of RRBs was reduced from 56 to 43," Finance Ministry said in a statement.
Commenting on One State One RRB, Shikhar Aggarwal, Chairman, BLS E-Services Ltd said that the large-scale consolidation of RRBs would enhance their capacity to serve rural communities more efficiently.
"Each newly formed RRB will be supported by a leading public sector bank as its sponsor, ensuring greater financial stability and operational effectiveness; this will help in providing more efficient services in rural areas,” Aggarwal said.
UNI NK ARN
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