Do you also have a bank account at Gramin Bank? So you should know about the big updates related to it. It is being said that the government is considering reducing the number of rural banks operating in the country. For which the merger of 15 banks has been kept. The government is in favor of one state and one regional rural bank.
One State, One Rural Bank
A total of 43 RRBs are currently operational in the country. A proposal has been proposed to reduce the number to 28. The fourth phase of merger of regional rural banks has been started by the Finance Ministry. The government wants to have only one regional rural bank in every state, so more than one bank will be merged.
According to the finance ministry’s plan, Andhra Pradesh has four RRBs. West Bengal and Uttar Pradesh have three RRBs each. Madhya Pradesh, Maharashtra, Gujarat, Karnataka, Jammu and Kashmir, Bihar, Odisha, and Rajasthan have two RRBs each.
Govt’s plan is ready!
As per sources, the government has prepared a blueprint for the merger of RRBs in consultation with the National Bank for Agriculture and Rural Development. After this merger, the number of RRBs in the country will be reduced to 28, which was earlier 43. The heads of these banks have been asked by the Department of Financial Services for their comments by November 20. After the merger in three phases by 2020-21, the number of RRBs was reduced from 196 to 43.