NEW DELHI: The finance ministry on Thursday said from May 1, 28 RRBs with over 22,000 branches spanning across 700 districts will function across the country as ‘One State One RRB’ comes into effect.Under One State One RRB, 26 Regional Rural Banks across 11 States/UTs have been amalgamated into standalone RRB in state/UT.
The amalgamation has reduced the number of RRBs from 43 to 28, to further improve viability and financial performance of RRBs, Department of Financial Services (DFS) said.
“Now there will be 28 RRBs with over 22000 branches spanning across 700 districts,” the DFS said in a post on X.
The amalgamation will result in increased capital base of unified RRBs, spurring credit growth and diversification in line with respective state specific goals.
All the entities would have authorised capital of Rs 2,000 crore, it added.
