RRBs amalgated into DGB

Hyderabad, Mar 26 (UNI) The four Regional Rural Banks (RRBs) sponsored by State Bank of Hyderabad have been amalgamated in to a single Grameena Bank and named as ''Deccan Grameena Bank''(DGB) with its head office at Dilsukhnagar in the city.

A notification to this effect was issued by the Central Government on March 24, this year.

The Banks, spread over the Telangana regions were Sri Saraswathi (Adialabad), Sri Sathavahana(Karimnagar), Sri Rama (Nizamabad) and Golconda Grameena Bank at adjoining Ranga Reddy of the state, a release from the DGB General Manager (Admn) T Raja Ram Babu said here today.

After amalgamation, the DGB will have a network of 166 branches with an aggregating business of about Rs 1600 crore.

Mr Ram Babu also said that Deputy General Manager of SBH S V Hanumantha Rao, has been posted as the new Chairman of the Bank, the release added.

UNI ASJ ROY 1959