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Canara Bank Ltd Provides Updates On Amalgamation Of Sponsored Regional Rural Bank


Friday, 17 May 2013 08:26am EDT 

Canara Bank announced that The Ministry of Finance, Government of India, has envisaged amalgamation geographically contiguous RRBs sponsored by different banks within a state, with single sponsor bank which will help in optimizing the use of modern technology. Accordingly, the Ministry of Finance, Government of India, vide its letter dated April 01, 2013 after consulting NABARD, concerned sponsor banks and State Government of Uttar Pradesh has notified that Aryavart Kshetriya Gramin Bank and Shreyas Gramin Bank sponsored by Bank of India and Canara Bank respectively in the state of Uttar Pradesh are hereby amalgamated into a single Regional Rural Bank, which shall be called as Gramin Bank of Aryavart with its Head Office at Lucknow under the sponsorship of Bank of India with effect from April 01, 2013. 

Company Quote

470.75
-5.35 -1.12%
5:27am EST