India, April 8 -- The Government of India issued the following news release:
Department of Financial Services (DFS) has notified amalgamation of 26 Regional Rural banks (RRBs) on the principles of "One State One RRB". This is fourth phase of amalgamation of RRBs.
Considering the improvement in efficiency of the RRBs due to amalgamations in the past, Ministry of Finance had rolled out an amalgamation plan in November-2024 for consultation with stakeholders. After consultation with stakeholders, amalgamation of 26 RRBs in 10 States and 1 UT have been carried out with primary focus on improvement in scale efficiency and cost rationalization.
At present, 43 RRBs are functioning in 26 States and 2 UTs. Post amalgamation, there will be 28 RRBs...