PNB merges Four RRBs in Uttar Pradesh

New Delhi, Dec 8 (UNI) Public sector Punjab National Bank today said it today said it has merged four Regional Rural Banks (RRBs) in Uttar Pradesh into a single RRB called Sarva UP Gramin Bank headquartered at Meerut.

Four RRBs are Kisan Gramin Bank, Devi Patan Kshetriya Gramin Bank, Rani Laxmibai Kshetriya Gramin Bank and Uttar Pradesh Gramin Bank, a bank statement said.

The branches/offices of the amalgamated RRB have started functioning in the new name. Sarva UP Gramin Bank will operate in 13 districts of UP with 214 branches and one branch in Haridwar district of Uttarakhand.

The RRB has 12.50 lakh deposit accounts with more than Rs 1,400 crore deposit and 2.50 lakh borrowal accounts with more than Rs 825 crore loan portfolio. The total business of RRB stood at Rs 2,225 crore.

With the amalgamation of the RRBs, the number of RRBs sponsored by PNB has come down from nine to six in line with 'one state, one RRB' policy for each sponsor bank set by the Finance Ministry.

UNI