PNB amagamates four banks into one in Bihar
New Delhi, Mar 6: Four Regional Rural Banks in Bihar sponsored by the Punjab National Bank were amalgamated into one bringing down the number of RRBs sponsored by the PNB to 9, covering six states.
Bhojpur Rhotas Gramin Bank, Magadh Gramin Bank, Nalanda Gramin Bank and Patliputra Gramin Bank have been amalgamated into Madhay Bihar Gramin Bank.
Punjab National Bank has undertaken this process of amalgamation pursuant to notifications dated 21.12.05 and 10.2.05 issued by Government of India, Ministry of Finance.
With this, all the amalgamation proposals initiated by the PNB stand implemented. The process of amalgamation has gone on smoothly as PNB as a sponsor bank had already taken requisite measures to ensure smooth transtion and formation of new entities, says a PNB release.
The rural banks sponsored by PNB after the latest amalgamaton are Madhya Bihar Gramin Bank in Patna, Haryana Gramin Bank in Rohtak, Himachal Gramin Bank in Mandi, Punjab Gramin in Kapurthala, Rajasthan Gramin Bank in Alwar, Uttar Pradesh Gramin Bank at Meerut, Devi Patan Kshetria Gramin Bank at Gonda, Rani Lakshmibai Kshetria Gramin Bank at Jhansi and Kisan Gramin Bank at Badaun.