Merger of RRBs on cards, says SGB Chairman

Chittoor: It is proposed to merge Regional Rural Banks in the state and the Government of India has already given its clearance for the merger, according to B Suribabu, Chairman, Saptagiri Grameena Bank in city. The state government has to give its permission in this regard which is the principal partner in the Regional Rural Banks, he added .

He said to The Hans India here on Thursday, that Indian Bank has come forward to merge the three regional rural banks Saptagiri Grameena Bank, Chaithanya Grameena Bank and AP Grameena Vikas Bank. The Centre plans to constitute state level RRB by merging regional rural banks, which is to be sponsored by a nationalised Bank the SGB Chairman added.

Suribabu further said that Saptagiri Grameena Bank has Rs.12,500 cr volume of business through its 220 branches in Chittoor and Krishna Districts.

It has 77 branches in Chittoor region, 57 branches in Madanapalli region and 86 branches in Vijayawada region. A permanent building for SGB head office would be constructed shortly with a cost of Rs 3 crore which may be used as Training Centre after the merger, he said.

District Collector Dr N Bharath Gupta is the nominee of Government for the SGB, he added .