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Government Initiates Merger of Regional Rural Banks
October 12, 2018
The government has started the consolidation of regional rural banks (RRB) with the other public sector banks (PRBs) and looks to bring down the tally to 36 from the existing 56.
An official said that the central government has already started consulting the sponsors of the RRBs and that the sponsor banks are preparing the roadmap for the merger. They said that the consolidation will increase productivity and thus improve the financial health of the new entities.
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