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Our Bureau

Hyderabad, March 26

The four regional rural banks (RRBs) sponsored by State Bank of Hyderabad (SBH) have been merged into a single entity named as Deccan Grameena Bank with headquarters at Hyderabad vide the Government notification dated March 24. The four RRBs - Sri Saraswathi, Sri Sathavahana, Sri Rama and Golconda Grameena Banks - were operating in Adilabad, Karimnagar, Nizamabad and Ranga Reddy districts of Andhra Pradesh, respectively.

After the amalgamation, Deccan Grammena Bank would have a network of 168 branches with an aggregate business of Rs 1,600 crore. The SBH Deputy General Manager, Mr S.V. Hanumantha Rao, has been appointed as the Chairman of the new bank, according to a press release.

More Stories on : Regional Rural Banks | Mergers & Acquisitions | Public Sector Banks

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