New Delhi, April 8: The Finance Ministry has notified the amalgamation of 26 Regional Rural Banks (RRBs) on Tuesday.
The Department of Financial Services is all set to work it out on the principles of 'One State One RRB', said a statement released by the ministry today.
The amalgamation strategy was initiated in November 2024 for consultation with stakeholders. After consultation with stakeholders, the amalgamation of 26 RRBs in 10 states and one UT has been finalized aiming improvement in scale efficiency and cost rationalization.
At present, 43 RRBs are functioning in 26 states and 2 UTs. Post amalgamation, there will be 28 RRBs in 26 states and 2 UTs with more than 22,000 branches covering 700 districts.Their predominant area of operation is in rural areas, with approximately 92 per cent of branches in rural and semi-urban areas.
