The proposed merger of regional rural banks (RRBs) in Andhra Pradesh has hit a temporary road block due to the prevailing uncertainty over the creation of separate state of Telangana. It was earlier proposed to merge Chaitanya Godavari Grammena Bank (CGGB) with Saptagiri Grameena Bank sponsored by Indian Bank.
Similarly, Deccan Grammena Bank, which is sponsored by State Bank of Hyderabad, is proposed to be merged with Andhra Pradesh Grameena Vikas Bank for which State Bank of India is the sponsor. RRBs are spread across several districts and regions of the State.
“The amalgamation process, which was actively initiated about three months ago, is now halted as some modifications and clarifications have been sought by the State Government in view of the much-talked about formation of Telangana State,” a senior official told Business Line.
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