New Delhi, April 19 -- Finance Minister Nirmala Sitharaman is likely to review the implementation and progress of the 'One State-One RRB' initiative on May 6.

The consolidation effort, which aims to achieve better operational efficiency and cost rationalization, will come into effect from May 1, merging 15 Regional Rural Banks (RRBs) across 11 states.

This fourth round of consolidation will reduce the total number of RRBs in the country from 43 to 28. According to sources, the Finance Minister's scheduled meeting with RRBs will address various issues, including the ongoing consolidation process.

The consolidation affects RRBs in 11 states: Andhra Pradesh, Uttar Pradesh, West Bengal, Bihar, Gujarat, Jammu & Kashmir, Karnataka, Madhya Pr...