New Delhi: As part of consolidation in the Regional Rural Banks (RRBs) segment, 25 such entities have been merged into 10 during the first nine months of the current fiscal."Restructuring of RRBs by amalgamating geographically contiguous RRBs sponsored by different banks within a state is in progress," an official said.
Up to January 7, 25 RRBs have been amalgamated into 10 RRBs in seven states. As a result, the number of RRBs has reduced from 82 as on April 2012 to 67 in the first week of January, the official said.The consolidation is aimed at improving efficiencies and helping RRBs achieve scale. The amalgamation will also help in optimising the use of modern technology.
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