The Hindu Business Line : PNB amalgamates 4 rural banks

New Delhi, Dec. 9 Four regional rural banks (RRBs) in Uttar Pradesh, sponsored by Punjab National Bank (PNB), have now been amalgamated into a single RRB, bringing down the overall number of RRBs sponsored by PNB from nine to six.

The single RRB in Uttar Pradesh has been named as Sarva UP Gramin Bank with head office at Meerut.

The four RRBs amalgamated are Kisan Gramin Bank, Devi Patan Kshetriya Gramin Bank, Rani Laxmibai Kshetriya Gramin Bank and Uttar Pradesh Gramin Bank.

The move to amalgamate the four RRBs in Uttar Pradesh was in line with the goal of “one State, one RRB for each sponsor bank” set by the Finance Minister, Mr P. Chidambaram, in his meeting with the Chairmen of RRBs held at New Delhi in July last. With the amalgamation of RRBs in Uttar Pradesh, PNB has achieved the goal and has sponsored an RRB each in of the States of Bihar, Haryana, Himachal Pradesh, Punjab, Rajasthan and Uttar Pradesh.

Sarva UP Gramin Bank would operate in 12 districts of the State with 214 branches and one branch in Haridwar district of Uttarakhand, a release issued by PNB said.

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