Thursday, Apr 17 2025 | Time 19:08 Hrs(IST)
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
Please log in to get detailed story.
Tags: #Centre notifies merger of 26 regional rural banks
More News

Tenali Double Horse Group recognises as one of India's fastest growing brands

17 Apr 2025 | 6:51 PM

Hyderabad, Apr 17 (UNI) Tenali Double Horse Group has been recognised as one of India’s Fastest Growing Brands & Leaders 2024–25 at the 25th Asian Business & Social Forum and the award was presented by URS Media and AsiaOne Magazine.

see more..

RSP expands market footprint, launches series of breakthrough products

17 Apr 2025 | 6:20 PM

Bhubaneswar, Apr 17 (UNI) Rourkela Steel Plant (RSP) has expanded its market footprint by meeting specialized customer requirements and achieving significant milestones in the financial year 2024–25.

see more..

AU SFB announces launch of 'Concierge Services' for premium banking programs

17 Apr 2025 | 6:16 PM

Hyderabad, Apr 17 (UNI ) AU Small Finance Bank (AU SFB), India’s largest small finance bank, on Thursday announced the launch of an exclusive ‘Concierge Services’ for its premium banking programs – AU ivy and AU Eternity.

see more..

Kottayam-Kochi Rubber Market Rates

17 Apr 2025 | 6:14 PM

Kottayam,Apr 17(UNI) Following were the Rubber Market rates announced by the Rubber Board here on Thursday per quintal
Kottayam
RSS FOUR: 19700
RSS FIVE : 19400
ISNR TWENTY: 17800
SIXTY PERCENT LATEX: 14055
Kochi

RSS FOUR : 19700
RSS FIVE : 19400
International rates (Bangkok)
RSS One : 19012
RSS Two : 18858
RSS Three: 18716
RSS Four : 18639
RSS Five : 18523
Kuala lumpur
SMR TWENTY : 14825($173.10)
SIXTY PERCENT LATEX : 12861($150.15)
UNI PA BD.

see more..

GRSE commences production of multi purpose vessel project

17 Apr 2025 | 5:58 PM

Kolkata, Apr 17 (UNI) It was a momentous occasion for Garden Reach Shipbuilders and Engineers (GRSE) Ltd on Thursday as the shipyard cut steel for the eight ship Multipurpose Vessel (MPV) project being executed for Germany’s Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG.

see more..