One RRB for Each State in India to Be Implemented by May 2025
Every state in the nation will have a single Regional Rural Bank (RRB) as of May 1. The Finance Ministry has issued a notification for the merger of 15 Regional Rural Banks in 11 states in order to enable this change.
The number of RRBs has decreased from 43 to 28 marking the fourth phase of RRB consolidation. Eleven regional rural banks in Andhra Pradesh, Uttar Pradesh, West Bengal, Bihar, Gujarat, Jammu and Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Odisha, and Rajasthan will combine into a single organization, according to a statement from the finance ministry.
This will achieve the objective of having one RRB per state. The merger of these RRBs is set to take effect on May 1, 2025. These RRBs will be unified into a single entity under the authority granted by Section 23A(1) of the Regional Rural Banks Act, 1976.
Union Bank of India, Canara Bank, Indian Bank and State Bank of India-sponsored Chaitanya Godavari Grameena Bank, Andhra Pragathi Grameena Bank, Saptagiri Grameena Bank and Andhra Pradesh Grameena Vikas Bank are set to merge into Andhra Pradesh Grameena Bank.
Three Regional Rural Banks in Uttar Pradesh and West Bengal will be consolidated into one entity. Baroda U.P. is based in Uttar Pradesh. Aryavart Bank and Prathama U.P. Gramin Bank have been merged to form Uttar Pradesh Gramin Bank, headquartered in Lucknow and sponsored by Bank of Baroda.
The West Bengal Gramin Bank, Paschim Banga Gramin Bank, and Uttarbanga Kshetriya Gramin Bank will be consolidated into the West Bengal Gramin Bank. Additionally, two Regional Rural Banks (RRBs) in each of the eight states – Bihar, Gujarat, Jammu and Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Odisha, and Rajasthan – will be merged into a single entity.
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