The Hindu Business Line : Central Bank of India merges three RRBs in Maharashtra

CENTRAL Bank of India has amalgamated three sponsored regional rural banks (RRBs) in Maharashtra with effect from September 12. The newly formed bank is called the Vidharbha Kshetriya Gramin Bank and will be headquartered in Akola.

The banks that have been merged are at Akola, Buldhana and Yavatmal, a press release from the bank said.

The bank has proposed to merge the sponsored RRBs in Bihar and Madhya Pradesh and the respective State Governments have given clearances. Once the process is complete, 23 RRBs of Central Bank of India will come down to 11, the release said.

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