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The Government has taken initiative towards consolidation of Regional Rural Banks (RRBs) sponsored by the same Bank within a State to widen the sphere and area of their operation and to strengthen their functioning with a view to increase flow of credit in the rural areas. In terms of Section 23 of Regional Rural Banks Act, 1976, the concurrence of NABARD, the sponsor bank and the concerned State Government have since been received to the proposals for amalgamation of three RRBs sponsored by Bank of Baroda in Gujarat, three RRBs sponsored by Dena Bank in Gujarat, two RRBs sponsored by Indian Bank in Tamil Nadu, three RRBs sponsored by Central Bank of India in Maharashtra and three RRBs sponsored by Punjab National Bank in Punjab.
BSC/DT/GN- 168/05
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