The Department of Financial Services (DFS), under the Ministry of Finance, has announced the amalgamation of 26 Regional Rural Banks (RRBs) across 10 states and 1 Union Territory. This fourth phase of RRB amalgamation aligns with the “One State One RRB” principle, aiming for improved efficiency and cost reduction based on positive outcomes from previous amalgamations. Post this phase, the number of RRBs will reduce to 28, operating in 26 states and 2 UTs with over 22,000 branches, predominantly in rural and semi-urban areas. The notification details the amalgamation of specific RRBs in Andhra Pradesh and Bihar, outlining the transfer of assets, liabilities, employees, and ongoing legal proceedings to the newly formed single RRBs in each state, namely Andhra Pradesh Grameena Bank and Bihar Gramin Bank. The authorized capital and operational areas of these new entities are also specified, ensuring the continuation of banking services and employee terms.
Ministry of Finance
Department of Financial Services notifies amalgamation of 26 RRBs in fourth phase of amalgamation
Department of Financial Services (DFS) has notified amalgamation of 26 Regional Rural banks (RRBs) on the principles of “One State One RRB”. This is fourth phase of amalgamation of RRBs.
Considering the improvement in efficiency of the RRBs due to amalgamations in the past, Ministry of Finance had rolled out an amalgamation plan in November-2024 for consultation with stakeholders. After consultation with stakeholders, amalgamation of 26 RRBs in 10 States and 1 UT have been carried out with primary focus on improvement in scale efficiency and cost rationalization.
At present, 43 RRBs are functioning in 26 States and 2 UTs. Post amalgamation, there will be 28 RRBs in 26 states and 2 UTs with more than 22000 branches covering 700 districts. Their predominant area of operation is in rural areas with approx. 92% of branches in rural/semi urban areas.
This is fourth phase of amalgamation. In previous 3 phases viz. Phase-I (FY 2006 to FY 2010) number of RRBs were reduced from 196 to 82, Phase-2 (FY 2013 – FY 2015) number of RRBs were reduced from 82 to 56 and Phase-3 (FY 2019 to FY 2021) number of RRBs were reduced from 56 to 43.*****
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 5th April, 2025
S.O. 1625(E).—Whereas the Central Government, after consultation with the National Bank for Agriculture and Rural Development, the Government of Andhra Pradesh and the Union Bank of India, Canara Bank, Indian Bank and State Bank of India, being the Sponsor Banks of Chaitanya Godavari Grameena Bank, Andhra Pragathi Grameena Bank, Saptagiri Grameena Bank and Andhra Pradesh Grameena Vikas Bank, is of the opinion that it is necessary in the public interest and in the interest of the development of the area served by the aforesaid Regional Rural Banks and also in the interest of the said Regional Rural Banks themselves, that the said Regional Rural Banks shall be amalgamated into a single Regional Rural Bank;
Now, therefore, in exercise of the powers conferred by sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 (21 of 1976) (hereinafter referred to as the Act), the Central Government hereby provides for the amalgamation of the said Regional Rural Banks into a single Regional Rural Bank, which shall come into effect on and from the 1st day of May, 2025 (hereinafter referred to as the effective date of amalgamation) with such constitution, property, powers, rights, interests, authorities and privileges; and with such liabilities, duties and obligations as specified hereunder:-
1. Chaitanya Godavari Grameena Bank, Andhra Pragathi Grameena Bank, Saptagiri Grameena Bank and Andhra Pradesh Grameena Vikas Bank (hereinafter referred to as the transferor Regional Rural Banks) sponsored by the Union Bank of India, Canara Bank, Indian Bank and State Bank of India in the State of Andhra Pradesh are hereby amalgamated into a single Regional Rural Bank, which shall be called as Andhra Pradesh Grameena Bank (hereinafter referred to as the transferee Regional Rural Bank) with its head office at Amravati under the sponsorship of Union Bank of India.
2. The authorised capital of the transferee Regional Rural Bank shall be rupees two thousand crore divided into two hundred crore number of fully paid shares of rupees ten each. The subscribed share capital of the transferee Regional Rural Bank shall be equal to the subscribed share capital of transferor Regional Rural Banks and, therefore, the entire subscribed share capital of the transferor Regional Rural Banks shall be deemed to have been transferred to and shall be deemed as subscribed share capital of the transferee Regional Rural Bank.
3. The entire share capital and share capital deposit of the transferee Regional Rural Bank shall be as under: –
| 1. | Share Capital | |
| (a) | Central Government | Rupees sixty one crore twenty one lakh twenty eight thousand seven hundred ninety |
| (b) | State Government | Rupees eighteen crore thirty six lakh thirty eight thousand four hundred eighty |
| (c) | Sponsor Bank | Rupees forty two crore eighty four lakh ninety thousand one hundred thirty |
| 2. | Share Capital Deposit | Nil |
4. From the effective date of amalgamation, the transferor Regional Rural Banks that is Chaitanya Godavari Grameena Bank, Andhra Pragathi Grameena Bank, Saptagiri Grameena Bank and Andhra Pradesh Grameena Vikas Bank in the State of Andhra Pradesh shall cease to carry on the business including that of making any payment to any depositors or discharge any liability or obligation to the creditors except to the extent as may be necessary for implementation of the provisions of the amalgamation of this notification.
5. From the effective date of amalgamation, the undertakings of the transferor Regional Rural Banks shall be transferred to and shall vest in the transferee Regional Rural Bank;
(a) the undertakings of the transferor Regional Rural Banks shall include all assets, rights, powers, authorities and privileges and all property movable and immovable, cash balance, reserve funds, investments and all other rights and interest in or arising out of such property, as are immediately before the commencement of this notification, in the ownership, possession, power or control of the transferor Regional Rural Banks whether within or outside India and all books of accounts, registers, records and all other documents of whatever nature relating thereto and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind then subsisting of the transferor Regional Rural Banks;
(b) all contracts, deeds, bonds, agreements, guarantees, powers of attorney, grants of legal representation and other instruments of whatsoever nature subsisting or having effect immediately before the commencement of this notification and to which the transferor Regional Rural Banks are a party or which are in favour of the transferor Regional Rural Banks shall be in full force and effect against or in favour of the transferee Regional Rural Bank and may be enforced or acted upon as fully and effectively as if in the place of the transferor Regional Rural Banks, the transferee Regional Rural Bank has been a party thereto or as if they had been issued in favour of the transferee Regional Rural Bank;
(c) if, on the effective date of amalgamation, any suit, appeal or other proceedings of whatsoever nature in relation to any business of the transferor Regional Rural Banks are pending by, or against to, the transferor Regional Rural Banks, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertaking of the transferor Regional Rural Banks or of anything contained in this notification but the suit, appeal or other proceedings may be continued, prosecuted and enforced by, or against the transferee Regional Rural Bank;
(d) any reference to the transferor Regional Rural Banks in any agreement, contract, conveyance, assurance, power of attorney or any other document of whatsoever nature shall be deemed to be a reference to the transferee Regional Rural Bank and the rights and obligations of the transferor Regional Rural Banks shall be deemed to be the rights and obligations of the transferee Regional Rural Bank.
6. (a) In respect of every savings banks account or current account or any other deposit account including a fixed deposit, cash certificate, monthly deposit, deposit payable at call or short notice or any other deposits by whatever name called with the transferor Regional Rural Bank, the transferee Regional Rural Bank shall open with itself on the effective date of amalgamation a corresponding and similar account in the name of the respective holders thereof crediting thereto full amount including interest to the extent payable:
Provided that where the transferee Regional Rural Bank entertains a reasonable doubt about the correctness of the entries made in any particular account, it may with the approval of the Sponsor Bank withhold the credit to be made in that account for a period not exceeding three months from the effective date of amalgamation within which the transferee Regional Rural Bank shall ascertain the correct balance in such account;
(b) in respect of every other liability, notwithstanding anything contained in the Transfer of Property Act, 1882 (4 of 1882) or the Registration Act, 1908 (16 of 1908), this notification shall be sufficient conveyance, in accordance with the provisions of this notification, of the business, properties, assets and liabilities, rights, interests, powers, privileges, benefits and obligations of whatever nature of the transferor Regional Rural Banks to the transferee Regional Rural Bank.
7. (a) The service of all the employees of the transferor Regional Rural Banks [excepting such of them as not being workmen within the meaning of the Industrial Disputes Act, 1947 (14 of 1947)] shall continue in the transferee Regional Rural Bank at the same remuneration and on the same terms and conditions of service or as the case may be, by which they were governed immediately before the effective date of amalgamation;
(b) the inter-se-seniority of officers and employees, directly recruited or promoted, shall be decided as per the guidelines by the National Bank for Agriculture and Rural Development issued vide letter number NB.IDD.RRCBD/2065/462/(ISS)2013-14, dated the 25th November, 2013. Further, if any issue arises in this regard, the same shall be decided by a Committee comprising representatives of the National Bank for Agriculture and Rural Development and Sponsor Bank.
8. The transferee Regional Rural Bank shall have the power to post or appoint the employees in the interest of the bank and the public as a whole anywhere in the entire area of operation of the transferee Regional Rural Bank.
9. The area of operation of the transferee Regional Rural Bank shall be the combined area of operation of the transferor Regional Rural Banks that is Chaitanya Godavari Grameena Bank, Andhra Pragathi Grameena Bank, Saptagiri Grameena Bank and Andhra Pradesh Grameena Vikas Bank in the State of Andhra Pradesh.
10. Unless otherwise expressly provided in this notification, the provisions of the Act shall have the same effect on the transferee Regional Rural Bank as if it has been established under sub-section (1) of section 3 of the Act.
[F. No. 7/6/2024/(1)-RRB]
PANKAJ SHARMA, Jt. Secy.
NOTIFICATION
New Delhi, the 5th April, 2025
S.O. 1626(E).—Whereas the Central Government, after consultation with the National Bank for Agriculture and Rural Development, the Government of Bihar and the Punjab National Bank and Central Bank of India, being the Sponsor Banks of Dakshin Bihar Gramin Bank and Uttar Bihar Gramin Bank, is of the opinion that it is necessary in the public interest and in the interest of the development of the area served by the aforesaid Regional Rural Banks and also in the interest of the said Regional Rural Banks themselves, that the said Regional Rural Banks shall be amalgamated into a single Regional Rural Bank;
Now, therefore, in exercise of the powers conferred by sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 (21 of 1976) (hereinafter referred to as the Act), the Central Government hereby provides for the amalgamation of the said Regional Rural Banks into a single Regional Rural Bank, which shall come into effect on and from the 1st day of May, 2025 (hereinafter referred to as the effective date of amalgamation) with such constitution, property, powers, rights, interests, authorities and privileges; and with such liabilities, duties and obligations as specified hereunder:-
1. Dakshin Bihar Gramin Bank and Uttar Bihar Gramin Bank (hereinafter referred to as the transferor Regional Rural Banks) sponsored by the Punjab National Bank and Central Bank of India in the State of Bihar are hereby amalgamated into a single Regional Rural Bank, which shall be called as Bihar Gramin Bank (hereinafter referred to as the transferee Regional Rural Bank) with its head office at Patna under the sponsorship of Punjab National Bank.
2. The authorised capital of the transferee Regional Rural Bank shall be rupees two thousand crore divided into two hundred crore number of fully paid shares of rupees ten each. The subscribed share capital of the transferee Regional Rural Bank shall be equal to the subscribed share capital of transferor Regional Rural Banks and, therefore, the entire subscribed share capital of the transferor Regional Rural Banks shall be deemed to have been transferred to and shall be deemed as subscribed share capital of the transferee Regional Rural Bank.
3. The entire share capital and share capital deposit of the transferee Regional Rural Bank shall be as under: –
| 1. | Share Capital | |
| (a) | Central Government | Rupees one thousand six hundred seventy one crore seventy two lakh forty seven thousand four hundred fifty |
| (b) | State Government | Rupees five hundred one crore fifty one lakh seventy four thousand two hundred forty |
| (c) | Sponsor Bank | Rupees one thousand one hundred seventy crore twenty lakh seventy three thousand two hundred thirty |
| 2. | Share Capital Deposit | Nil |
4. From the effective date of amalgamation, the transferor Regional Rural Banks that is Dakshin Bihar Gramin Bank and Uttar Bihar Gramin Bank in the State of Bihar shall cease to carry on the business including that of making any payment to any depositors or discharge any liability or obligation to the creditors except to the extent as may be necessary for implementation of the provisions of the amalgamation of this notification.
5. From the effective date of amalgamation, the undertakings of the transferor Regional Rural Banks shall be transferred to and shall vest in the transferee Regional Rural Bank;
(a) the undertakings of the transferor Regional Rural Banks shall include all assets, rights, powers, authorities and privileges and all property movable and immovable, cash balance, reserve funds, investments and all other rights and interest in or arising out of such property, as are immediately before the commencement of this notification, in the ownership, possession, power or control of the transferor Regional Rural Banks whether within or outside India and all books of accounts, registers, records and all other documents of whatever nature relating thereto and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind then subsisting of the transferor Regional Rural Banks;
(b) all contracts, deeds, bonds, agreements, guarantees, powers of attorney, grants of legal representation and other instruments of whatsoever nature subsisting or having effect immediately before the commencement of this notification and to which the transferor Regional Rural Banks are a party or which are in favour of the transferor Regional Rural Banks shall be in full force and effect against or in favour of the transferee Regional Rural Bank and may be enforced or acted upon as fully and effectively as if in the place of the transferor Regional Rural Banks, the transferee Regional Rural Bank has been a party thereto or as if they had been issued in favour of the transferee Regional Rural Bank;
(c) if, on the effective date of amalgamation, any suit, appeal or other proceedings of whatsoever nature in relation to any business of the transferor Regional Rural Banks are pending by, or against to the transferor Regional Rural Banks, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertaking of the transferor Regional Rural Banks or of anything contained in this notification but the suit, appeal or other proceedings may be continued, prosecuted and enforced by, or against the transferee Regional Rural Bank;
(d) any reference to the transferor Regional Rural Banks in any agreement, contract, conveyance, assurance, power of attorney or any other document of whatsoever nature shall be deemed to be a reference to the transferee Regional Rural Bank and the rights and obligations of the transferor Regional Rural Banks shall be deemed to be the rights and obligations of the transferee Regional Rural Bank.
6. (a) In respect of every savings banks account or current account or any other deposit account including
a fixed deposit, cash certificate, monthly deposit, deposit payable at call or short notice or any other deposits by whatever name called with the transferor Regional Rural Bank, the transferee Regional Rural Bank shall open with itself on the effective date of amalgamation a corresponding and similar account in the name of the respective holders thereof crediting thereto full amount including interest to the extent payable:
Provided that where the transferee Regional Rural Bank entertains a reasonable doubt about the correctness of the entries made in any particular account, it may with the approval of the Sponsor Bank withhold the credit to be made in that account for a period not exceeding three months from the effective date of amalgamation within which the transferee Regional Rural Bank shall ascertain the correct balance in such account;
(b) in respect of every other liability, notwithstanding anything contained in the Transfer of Property Act, 1882(4 of 1882) or the Registration Act, 1908 (16 of 1908), this notification shall be sufficient conveyance, in accordance with the provisions of this notification, of the business, properties, assets and liabilities, rights, interests, powers, privileges, benefits and obligations of whatever nature of the transferor Regional Rural Banks to the transferee Regional Rural Bank.
7. (a) The service of all the employees of the transferor Regional Rural Banks [excepting such of them as not being workmen within the meaning of the Industrial Disputes Act, 1947 (14 of 1947)] shall continue in the transferee Regional Rural Bank at the same remuneration and on the same terms and conditions of service or as the case may be, by which they were governed immediately before the effective date of amalgamation;
(b) the inter-se-seniority of officers and employees, directly recruited or promoted, shall be decided as per the guidelines by the National Bank for Agriculture and Rural Development issued vide letter number NB.IDD.RRCBD/2065/462/(ISS)2013-14, dated the 25th November, 2013. Further, if any issue arises in this regard, the same shall be decided by a Committee comprising representatives of the National Bank for Agriculture and Rural Development and Sponsor Bank.
8. The transferee Regional Rural Bank shall have the power to post or appoint the employees in the interest of the bank and the public as a whole anywhere in the entire area of operation of the transferee Regional Rural Bank.
9. The area of operation of the transferee Regional Rural Bank shall be the combined area of operation of the transferor Regional Rural Banks that is Dakshin Bihar Gramin Bank and Uttar Bihar Gramin Bank in the State of Bihar.
10. Unless otherwise expressly provided in this notification, the provisions of the Act shall have the same effect on the transferee Regional Rural Bank as if it has been established under sub-section (1) of section 3 of the Act.
[F. No 7/6/2024/(2)-RRB]
PANKAJ SHARMA, Jt. Secy.
NOTIFICATION
New Delhi, the 5th April, 2025
S.O. 1627(E).—Whereas the Central Government, after consultation with the National Bank for Agriculture and Rural Development, the Government of Gujarat and the Bank of Baroda and State Bank of India, being the Sponsor Banks of Baroda Gujarat Gramin Bank and Saurashtra Gramin Bank, is of the opinion that it is necessary in the public interest and in the interest of the development of the area served by the aforesaid Regional Rural Banks and also in the interest of the said Regional Rural Banks themselves, that the said Regional Rural Banks shall be amalgamated into a single Regional Rural Bank;
Now, therefore, in exercise of the powers conferred by sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 (21 of 1976) (hereinafter referred to as the Act), the Central Government hereby provides for the amalgamation of the said Regional Rural Banks into a single Regional Rural Bank, which shall come into effect on and from the 1st day of May, 2025 (hereinafter referred to as the effective date of amalgamation) with such constitution, property, powers, rights, interests, authorities and privileges; and with such liabilities, duties and obligations as specified hereunder:-
1. Baroda Gujarat Gramin Bank and Saurashtra Gramin Bank (hereinafter referred to as the transferor Regional Rural Banks) sponsored by the Bank of Baroda and State Bank of India in the State of Gujarat are hereby amalgamated into a single Regional Rural Bank, which shall be called as Gujarat Gramin Bank (hereinafter referred to as the transferee Regional Rural Bank) with its head office at Vadodara under the sponsorship of Bank of Baroda.
2. The authorised capital of the transferee Regional Rural Bank shall be rupees two thousand crore divided into two hundred crore number of fully paid shares of rupees ten each. The subscribed share capital of the transferee Regional Rural Bank shall be equal to the subscribed share capital of transferor Regional Rural Banks and, therefore, the entire subscribed share capital of the transferor Regional Rural Banks shall be deemed to have been transferred to and shall be deemed as subscribed share capital of the transferee Regional Rural Bank.
3. The entire share capital and share capital deposit of the transferee Regional Rural Bank shall be as under: –
| 1. | Share Capital | |
| (a) | Central Government | Rupees fifty one crore forty lakh seventy five thousand one hundred fifty |
| (b) | State Government | Rupees fifteen crore forty two lakh twenty two thousand five hundred forty |
| (c) | Sponsor Bank | Rupees thirty five crore ninety eight lakh fifty two thousand six hundred ten |
| 2. | Share Capital Deposit | Nil |
4. From the effective date of amalgamation, the transferor Regional Rural Banks that is Baroda Gujarat Gramin Bank and Saurashtra Gramin Bank in the State of Gujarat shall cease to carry on the business including that of making any payment to any depositors or discharge any liability or obligation to the creditors except to the extent as may be necessary for implementation of the provisions of the amalgamation of this notification.
5. From the effective date of amalgamation, the undertakings of the transferor Regional Rural Banks shall be transferred to and shall vest in the transferee Regional Rural Bank;
(a) the undertakings of the transferor Regional Rural Banks shall include all assets, rights, powers, authorities and privileges and all property movable and immovable, cash balance, reserve funds, investments and all other rights and interest in or arising out of such property, as are immediately before the commencement of this notification, in the ownership, possession, power or control of the transferor Regional Rural Banks whether within or outside India and all books of accounts, registers, records and all other documents of whatever nature relating thereto and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind then subsisting of the transferor Regional Rural Banks;
(b) all contracts, deeds, bonds, agreements, guarantees, powers of attorney, grants of legal representation and other instruments of whatsoever nature subsisting or having effect immediately before the commencement of this notification and to which the transferor Regional Rural Banks are a party or which are in favour of the transferor Regional Rural Banks shall be in full force and effect against or in favour of the transferee Regional Rural Bank and may be enforced or acted upon as fully and effectively as if in the place of the transferor Regional Rural Banks, the transferee Regional Rural Bank has been a party thereto or as if they had been issued in favour of the transferee Regional Rural Bank;
(c) if, on the effective date of amalgamation, any suit, appeal or other proceedings of whatsoever nature in relation to any business of the transferor Regional Rural Banks are pending by, or against to the transferor Regional Rural Banks, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertaking of the transferor Regional Rural Banks or of anything contained in this notification but the suit, appeal or other proceedings may be continued, prosecuted and enforced by, or against the transferee Regional Rural Bank;
(d) any reference to the transferor Regional Rural Banks in any agreement, contract, conveyance, assurance, power of attorney or any other document of whatsoever nature shall be deemed to be a reference to the transferee Regional Rural Bank and the rights and obligations of the transferor Regional Rural Banks shall be deemed to be the rights and obligations of the transferee Regional Rural Bank.
6. (a) In respect of every savings banks account or current account or any other deposit account including
a fixed deposit, cash certificate, monthly deposit, deposit payable at call or short notice or any other deposits by whatever name called with the transferor Regional Rural Bank, the transferee Regional Rural Bank shall open with itself on the effective date of amalgamation a corresponding and similar account in the name of the respective holders thereof crediting thereto full amount including interest to the extent payable
Provided that where the transferee Regional Rural Bank entertains a reasonable doubt about the correctness of the entries made in any particular account, it may with the approval of the Sponsor Bank withhold the credit to be made in that account for a period not exceeding three months from the effective date of amalgamation within which the transferee Regional Rural Bank shall ascertain the correct balance in such account;
(b) in respect of every other liability, notwithstanding anything contained in the Transfer of Property Act, 1882 (4 of 1882) or the Registration Act, 1908 (16 of 1908), this notification shall be sufficient conveyance, in accordance with the provisions of this notification, of the business, properties, assets and liabilities, rights, interests, powers, privileges, benefits and obligations of whatever nature of the transferor Regional Rural Banks to the transferee Regional Rural Bank.
7. (a) The service of all the employees of the transferor Regional Rural Banks [excepting such of them as not being workmen within the meaning of the Industrial Disputes Act, 1947 (14 of 1947)] shall continue in the transferee Regional Rural Bank at the same remuneration and on the same terms and conditions of service or as the case may be, by which they were governed immediately before the effective date of amalgamation;
(b) the inter-se-seniority of officers and employees, directly recruited or promoted, shall be decided as per the guidelines by the National Bank for Agriculture and Rural Development issued vide letter number NB.IDD.RRCBD/2065/462/(ISS)2013-14, dated the 25th November, 2013. Further, if any issue arises in this regard, the same shall be decided by a Committee comprising representatives of the National Bank for Agriculture and Rural Development and Sponsor Bank.
8. The transferee Regional Rural Bank shall have the power to post or appoint the employees in the interest of the bank and the public as a whole anywhere in the entire area of operation of the transferee Regional Rural Bank.
9. The area of operation of the transferee Regional Rural Bank shall be the combined area of operation of the transferor Regional Rural Banks that is Baroda Gujarat Gramin Bank and Saurashtra Gramin Bank in the State of Gujarat.
10. Unless otherwise expressly provided in this notification, the provisions of the Act shall have the same effect on the transferee Regional Rural Bank as if it has been established under sub-section (1) of section 3 of the Act.
[F. No. 7/6/2024/(3)-RRB]
PANKAJ SHARMA, Jt. Secy.
NOTIFICATION
New Delhi, the 5th April, 2025
S.O. 1628(E).—Whereas the Central Government, after consultation with the National Bank for Agriculture and Rural Development, the Government of Jammu and Kashmir and the The Jammu and Kashmir Bank Ltd. and State Bank of India, being the Sponsor Banks of J & K Grameen Bank and Ellaquai Dehati Bank, is of the opinion that it is necessary in the public interest and in the interest of the development of the area served by the aforesaid Regional Rural Banks and also in the interest of the said Regional Rural Banks themselves, that the said Regional Rural Banks shall be amalgamated into a single Regional Rural Bank;
Now, therefore, in exercise of the powers conferred by sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 (21 of 1976) (hereinafter referred to as the Act), the Central Government hereby provides for the amalgamation of the said Regional Rural Banks into a single Regional Rural Bank, which shall come into effect on and from the 1st day of May, 2025 (hereinafter referred to as the effective date of amalgamation) with such constitution, property, powers, rights, interests, authorities and privileges; and with such liabilities, duties and obligations as specified hereunder:-
1. J & K Grameen Bank and Ellaquai Dehati Bank (hereinafter referred to as the transferor Regional Rural Banks) sponsored by the The Jammu and Kashmir Bank Ltd. and State Bank of India in the Union Territory of Jammu and Kashmir are hereby amalgamated into a single Regional Rural Bank which shall be called as Jammu and Kashmir Grameen Bank (hereinafter referred to as the transferee Regional Rural Bank) with its head office at Jammu under the sponsorship of The Jammu and Kashmir Bank Ltd.
2. The authorised capital of the transferee Regional Rural Bank shall be rupees two thousand crore divided into two hundred crore number of fully paid shares of rupees ten each. The subscribed share capital of the transferee Regional Rural Bank shall be equal to the subscribed share capital of transferor Regional Rural Banks and, therefore, the entire subscribed share capital of the transferor Regional Rural Banks shall be deemed to have been transferred to and shall be deemed as subscribed share capital of the transferee Regional Rural Bank.
3. The entire share capital and share capital deposit of the transferee Regional Rural Bank shall be as under: –
| 1. | Share Capital | |
| (a) | Central Government | Rupees four hundred ninety four crore seventeen lakh fifty eight thousand five hundred |
| (b) | Union Territory Government | Rupees one hundred forty eight crore twenty five lakh twenty seven thousand five hundred forty |
| (c) | Sponsor Bank | Rupees three hundred forty five crore ninety two lakh thirty thousand nine hundred sixty |
| 2. | Share Capital Deposit | Nil |
4. From the effective date of amalgamation, the transferor Regional Rural Banks that is J & K Grameen Bank and Ellaquai Dehati Bank in the Union Territory of Jammu and Kashmir shall cease to carry on the business including that of making any payment to any depositors or discharge any liability or obligation to the creditors except to the extent as may be necessary for implementation of the provisions of the amalgamation of this notification.
5. From the effective date of amalgamation, the undertakings of the transferor Regional Rural Banks shall be transferred to and shall vest in the transferee Regional Rural Bank;
(a) the undertakings of the transferor Regional Rural Banks shall include all assets, rights, powers, authorities and privileges and all property movable and immovable, cash balance, reserve funds, investments and all other rights and interest in or arising out of such property, as are immediately before the commencement of this notification, in the ownership, possession, power or control of the transferor Regional Rural Banks whether within or outside India and all books of accounts, registers, records and all other documents of whatever nature relating thereto and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind then subsisting of the transferor Regional Rural Banks;
(b) all contracts, deeds, bonds, agreements, guarantees, powers of attorney, grants of legal representation and other instruments of whatsoever nature subsisting or having effect immediately before the commencement of this notification and to which the transferor Regional Rural Banks are a party or which are in favour of the transferor Regional Rural Banks shall be in full force and effect against or in favour of the transferee Regional Rural Bank and may be enforced or acted upon as fully and effectively as if in the place of the transferor Regional Rural Banks, the transferee Regional Rural Bank has been a party thereto or as if they had been issued in favour of the transferee Regional Rural Bank;
(c) if, on the effective date of amalgamation, any suit, appeal or other proceedings of whatsoever nature in relation to any business of the transferor Regional Rural Banks are pending by, or against to the transferor Regional Rural Banks, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertaking of the transferor Regional Rural Banks or of anything contained in this notification but the suit, appeal or other proceedings may be continued, prosecuted and enforced by, or against the transferee Regional Rural Bank;
(d) any reference to the transferor Regional Rural Banks in any agreement, contract, conveyance, assurance, power of attorney or any other document of whatsoever nature shall be deemed to be a reference to the transferee Regional Rural Bank and the rights and obligations of the transferor Regional Rural Banks shall be deemed to be the rights and obligations of the transferee Regional Rural Bank.
6. (a) In respect of every savings banks account or current account or any other deposit account including
a fixed deposit, cash certificate, monthly deposit, deposit payable at call or short notice or any other deposits by whatever name called with the transferor Regional Rural Bank, the transferee Regional Rural Bank shall open with itself on the effective date of amalgamation a corresponding and similar account in the name of the respective holders thereof crediting thereto full amount including interest to the extent payable:
Provided that where the transferee Regional Rural Bank entertains a reasonable doubt about the correctness of the entries made in any particular account, it may with the approval of the Sponsor Bank withhold the credit to be made in that account for a period not exceeding three months from the effective date of amalgamation within which the transferee Regional Rural Bank shall ascertain the correct balance in such account;
(b) in respect of every other liability, notwithstanding anything contained in the Transfer of Property Act, 1882 (4 of 1882) or the Registration Act, 1908 (16 of 1908), this notification shall be sufficient conveyance, in accordance with the provisions of this notification, of the business, properties, assets and liabilities, rights, interests, powers, privileges, benefits and obligations of whatever nature of the transferor Regional Rural Banks to the transferee Regional Rural Bank.
7. (a) The service of all the employees of the transferor Regional Rural Banks [excepting such of them as not being workmen within the meaning of the Industrial Disputes Act, 1947 (14 of 1947)] shall continue in the transferee Regional Rural Bank at the same remuneration and on the same terms and conditions of service or as the case may be, by which they were governed immediately before the effective date of amalgamation;
(b) the inter-se-seniority of officers and employees, directly recruited or promoted, shall be decided as per the guidelines by the National Bank for Agriculture and Rural Development issued vide letter number NB.IDD.RRCBD/2065/462/(ISS)2013-14, dated the 25th November, 2013. Further, if any issue arises in this regard, the same shall be decided by a Committee comprising representatives of the National Bank for Agriculture and Rural Development and Sponsor Bank.
8. The transferee Regional Rural Bank shall have the power to post or appoint the employees in the interest of the bank and the public as a whole anywhere in the entire area of operation of the transferee Regional Rural Bank.
9. The area of operation of the transferee Regional Rural Bank shall be the combined area of operation of the transferor Regional Rural Banks that is J & K Grameen Bank and Ellaquai Dehati Bank in the Union Territory of Jammu and Kashmir.
10. Unless otherwise expressly provided in this notification, the provisions of the Act shall have the same effect on the transferee Regional Rural Bank as if it has been established under sub-section (1) of section 3 of the Act.
[F. No. 7/6/2024/(4)-RRB]
PANKAJ SHARMA, Jt. Secy.
NOTIFICATION
New Delhi, the 5th April, 2025
S.O. 1629(E).—Whereas the Central Government, after consultation with the National Bank for Agriculture and Rural Development, the Government of Karnataka and the Canara Bank, being the Sponsor Bank of Karnataka Vikas Grameena Bank and Karnataka Gramin Bank, is of the opinion that it is necessary in the public interest and in the interest of the development of the area served by the aforesaid Regional Rural Banks and also in the interest of the said Regional Rural Banks themselves, that the said Regional Rural Banks shall be amalgamated into a single Regional Rural Bank;
Now, therefore, in exercise of the powers conferred by sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 (21 of 1976) (hereinafter referred to as the Act), the Central Government hereby provides for the amalgamation of the said Regional Rural Banks into a single Regional Rural Bank, which shall come into effect on and from the 1st day of May, 2025 (hereinafter referred to as the effective date of amalgamation) with such constitution, property, powers, rights, interests, authorities and privileges; and with such liabilities, duties and obligations as specified hereunder:-
1. Karnataka Vikas Grameena Bank and Karnataka Gramin Bank (hereinafter referred to as the transferor Regional Rural Banks) sponsored by the Canara Bank in the State of Karnataka are hereby amalgamated into a single Regional Rural Bank, which shall be called as Karnataka Grameena Bank (hereinafter referred to as the transferee Regional Rural Bank) with its head office at Ballari under the sponsorship of Canara Bank.
2. The authorised capital of the transferee Regional Rural Bank shall be rupees two thousand crore divided into two hundred crore number of fully paid shares of rupees ten each. The subscribed share capital of the transferee Regional Rural Bank shall be equal to the subscribed share capital of transferor Regional Rural Banks and, therefore, the entire subscribed share capital of the transferor Regional Rural Banks shall be deemed to have been transferred to and shall be deemed as subscribed share capital of the transferee Regional Rural Bank.
3. The entire share capital and share capital deposit of the transferee Regional Rural Bank shall be as under: –
| 1. | Share Capital | |
| (a) | Central Government | Rupees seventy crore eighty lakh six thousand seven hundred fifty |
| (b) | State Government | Rupees twenty one crore twenty four lakh fifty two thousand one hundred thirty |
| (c) | Sponsor Bank | Rupees forty nine crore fifty six lakh fifty four thousand six hundred twenty |
| 2. | Share Capital Deposit | Nil |
4. From the effective date of amalgamation, the transferor Regional Rural Banks that is Karnataka Vikas Grameena Bank and Karnataka Gramin Bank in the State of Karnataka shall cease to carry on the business including that of making any payment to any depositors or discharge any liability or obligation to the creditors except to the extent as may be necessary for implementation of the provisions of the amalgamation of this notification.
5. From the effective date of amalgamation, the undertakings of the transferor Regional Rural Banks shall be transferred to and shall vest in the transferee Regional Rural Bank;
(a) the undertakings of the transferor Regional Rural Banks shall include all assets, rights, powers, authorities and privileges and all property movable and immovable, cash balance, reserve funds, investments and all other rights and interest in or arising out of such property, as are immediately before the commencement of this notification, in the ownership, possession, power or control of the transferor Regional Rural Banks whether within or outside India and all books of accounts, registers, records and all other documents of whatever nature relating thereto and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind then subsisting of the transferor Regional Rural Banks;
(b) all contracts, deeds, bonds, agreements, guarantees, powers of attorney, grants of legal representation and other instruments of whatsoever nature subsisting or having effect immediately before the commencement of this notification and to which the transferor Regional Rural Banks are a party or which are in favour of the transferor Regional Rural Banks shall be in full force and effect against or in favour of the transferee Regional Rural Bank and may be enforced or acted upon as fully and effectively as if in the place of the transferor Regional Rural Banks, the transferee Regional Rural Bank has been a party thereto or as if they had been issued in favour of the transferee Regional Rural Bank;
(c) if, on the effective date of amalgamation, any suit, appeal or other proceedings of whatsoever nature in relation to any business of the transferor Regional Rural Banks are pending by, or against to the transferor Regional Rural Banks, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertaking of the transferor Regional Rural Banks or of anything contained in this notification but the suit, appeal or other proceedings may be continued, prosecuted and enforced by, or against the transferee Regional Rural Bank;
(d) any reference to the transferor Regional Rural Banks in any agreement, contract, conveyance, assurance, power of attorney or any other document of whatsoever nature shall be deemed to be a reference to the transferee Regional Rural Bank and the rights and obligations of the transferor Regional Rural Banks shall be deemed to be the rights and obligations of the transferee Regional Rural Bank.
6. (a) In respect of every savings banks account or current account or any other deposit account including a fixed deposit, cash certificate, monthly deposit, deposit payable at call or short notice or any other deposits by whatever name called with the transferor Regional Rural Bank, the transferee Regional Rural Bank shall open with itself on the effective date of amalgamation a corresponding and similar account in the name of the respective holders thereof crediting thereto full amount including interest to the extent payable:
Provided that where the transferee Regional Rural Bank entertains a reasonable doubt about the correctness of the entries made in any particular account, it may with the approval of the Sponsor Bank withhold the credit to be made in that account for a period not exceeding three months from the effective date of amalgamation within which the transferee Regional Rural Bank shall ascertain the correct balance in such account;
(b) in respect of every other liability, notwithstanding anything contained in the Transfer of Property Act, 1882 (4 of 1882) or the Registration Act, 1908 (16 of 1908), this notification shall be sufficient conveyance, in accordance with the provisions of this notification, of the business, properties, assets and liabilities, rights, interests, powers, privileges, benefits and obligations of whatever nature of the transferor Regional Rural Banks to the transferee Regional Rural Bank.
7. (a) The service of all the employees of the transferor Regional Rural Banks [excepting such of them as not being workmen within the meaning of the Industrial Disputes Act, 1947 (14 of 1947)] shall continue in the transferee Regional Rural Bank at the same remuneration and on the same terms and conditions of service or as the case may be, by which they were governed immediately before the effective date of amalgamation;
(b) The inter-se-seniority of officers and employees, directly recruited or promoted, shall be decided as per the guidelines by the National Bank for Agriculture and Rural Development issued vide letter number NB.IDD.RRCBD/2065/462/(ISS)2013-14, dated the 25th November, 2013. Further, if any issue arises in this regard, the same shall be decided by a Committee comprising representatives of the National Bank for Agriculture and Rural Development and Sponsor Bank.
8. The transferee Regional Rural Bank shall have the power to post or appoint the employees in the interest of the bank and the public as a whole anywhere in the entire area of operation of the transferee Regional Rural Bank.
9. The area of operation of the transferee Regional Rural Bank shall be the combined area of operation of the transferor Regional Rural Banks that is Karnataka Vikas Grameena Bank and Karnataka Gramin Bank in the State of Karnataka.
10. Unless otherwise expressly provided in this notification, the provisions of the Act shall have the same effect on the transferee Regional Rural Bank as if it has been established under sub-section (1) of section 3 of the Act.
[F. No. 7/6/2024/(5)-RRB]
PANKAJ SHARMA, Jt. Secy.
NOTIFICATION
New Delhi, the 5th April, 2025
S.O. 1630(E).—Whereas the Central Government, after consultation with the National Bank for Agriculture and Rural Development, the Government of Madhya Pradesh and the Bank of India and State Bank of India, being the Sponsor Banks of Madhya Pradesh Gramin Bank and Madhyanchal Gramin Bank, is of the opinion that it is necessary in the public interest and in the interest of the development of the area served by the aforesaid Regional Rural Banks and also in the interest of the said Regional Rural Banks themselves, that the said Regional Rural Banks shall be amalgamated into a single Regional Rural Bank;
Now, therefore, in exercise of the powers conferred by sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 (21 of 1976) (hereinafter referred to as the Act), the Central Government hereby provides for the amalgamation of the said Regional Rural Banks into a single Regional Rural Bank, which shall come into effect on and from the 1st day of May, 2025 (hereinafter referred to as the effective date of amalgamation) with such constitution, property, powers, rights, interests, authorities and privileges; and with such liabilities, duties and obligations as specified hereunder:-
1. Madhya Pradesh Gramin Bank and Madhyanchal Gramin Bank (hereinafter referred to as the transferor Regional Rural Banks) sponsored by the Bank of India and State Bank of India in the State of Madhya Pradesh are hereby amalgamated into a single Regional Rural Bank, which shall be called as Madhya Pradesh Gramin Bank (hereinafter referred to as the transferee Regional Rural Bank) with its head office at Indore under the sponsorship of Bank of India.
2. The authorised capital of the transferee Regional Rural Bank shall be rupees two thousand crore divided into two hundred crore number of fully paid shares of rupees ten each. The subscribed share capital of the transferee Regional Rural Bank shall be equal to the subscribed share capital of transferor Regional Rural Banks and, therefore, the entire subscribed share capital of the transferor Regional Rural Banks shall be deemed to have been transferred to and shall be deemed as subscribed share capital of the transferee Regional Rural Bank.
3. The entire share capital and share capital deposit of the transferee Regional Rural Bank shall be as under: –
| 1. | Share Capital | |
| (a) | Central Government | Rupees one thousand three hundred eight crore thirty five lakh sixteen thousand seven hundred thirty |
| (b) | State Government | Rupees three hundred ninety two crore fifty lakh fifty five thousand twenty |
| (c) | Sponsor Bank | Rupees nine hundred fifteen crore eighty four lakh sixty one thousand seven hundred ten |
| 2. | Share Capital Deposit | Nil |
4. From the effective date of amalgamation, the transferor Regional Rural Banks that is Madhya Pradesh Gramin Bank and Madhyanchal Gramin Bank in the State of Madhya Pradesh shall cease to carry on the business including that of making any payment to any depositors or discharge any liability or obligation to the creditors except to the extent as may be necessary for implementation of the provisions of the amalgamation of this notification.
5. From the effective date of amalgamation, the undertakings of the transferor Regional Rural Banks shall be transferred to and shall vest in the transferee Regional Rural Bank;
(a) the undertakings of the transferor Regional Rural Banks shall include all assets, rights, powers, authorities and privileges and all property movable and immovable, cash balance, reserve funds, investments and all other rights and interest in or arising out of such property, as are immediately before the commencement of this notification, in the ownership, possession, power or control of the transferor Regional Rural Banks whether within or outside India and all books of accounts, registers, records and all other documents of whatever nature relating thereto and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind then subsisting of the transferor Regional Rural Banks;
(b) all contracts, deeds, bonds, agreements, guarantees, powers of attorney, grants of legal representation and other instruments of whatsoever nature subsisting or having effect immediately before the commencement of this notification and to which the transferor Regional Rural Banks are a party or which are in favour of the transferor Regional Rural Banks shall be in full force and effect against or in favour of the transferee Regional Rural Bank and may be enforced or acted upon as fully and effectively as if in the place of the transferor Regional Rural Banks, the transferee Regional Rural Bank has been a party thereto or as if they had been issued in favour of the transferee Regional Rural Bank;
(c) if, on the effective date of amalgamation, any suit, appeal or other proceedings of whatsoever nature in relation to any business of the transferor Regional Rural Banks are pending by, or against to the transferor Regional Rural Banks, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertaking of the transferor Regional Rural Banks or of anything contained in this notification but the suit, appeal or other proceedings may be continued, prosecuted and enforced by, or against the transferee Regional Rural Bank;
(d) any reference to the transferor Regional Rural Banks in any agreement, contract, conveyance, assurance, power of attorney or any other document of whatsoever nature shall be deemed to be a reference to the transferee Regional Rural Bank and the rights and obligations of the transferor Regional Rural Banks shall be deemed to be the rights and obligations of the transferee Regional Rural Bank.
6. (a) In respect of every savings banks account or current account or any other deposit account including a fixed deposit, cash certificate, monthly deposit, deposit payable at call or short notice or any other deposits by whatever name called with the transferor Regional Rural Bank, the transferee Regional Rural Bank shall open with itself on the effective date of amalgamation a corresponding and similar account in the name of the respective holders thereof crediting thereto full amount including interest to the extent payable:
Provided that where the transferee Regional Rural Bank entertains a reasonable doubt about the correctness of the entries made in any particular account, it may with the approval of the Sponsor Bank withhold the credit to be made in that account for a period not exceeding three months from the effective date of amalgamation within which the transferee Regional Rural Bank shall ascertain the correct balance in such account;
(b) in respect of every other liability, notwithstanding anything contained in the Transfer of Property Act, 1882 (4 of 1882) or the Registration Act, 1908 (16 of 1908), this notification shall be sufficient conveyance, in accordance with the provisions of this notification, of the business, properties, assets and liabilities, rights, interests, powers, privileges, benefits and obligations of whatever nature of the transferor Regional Rural Banks to the transferee Regional Rural Bank.
7. (a) The service of all the employees of the transferor Regional Rural Banks [excepting such of them as not being workmen within the meaning of the Industrial Disputes Act, 1947 [14 of 1947)] shall continue in the transferee Regional Rural Bank at the same remuneration and on the same terms and conditions of service or as the case may be, by which they were governed immediately before the effective date of amalgamation;
(b) The inter-se-seniority of officers and employees, directly recruited or promoted, shall be decided as per the guidelines by the National Bank for Agriculture and Rural Development issued vide letter number NB.IDD.RRCBD/2065/462/(ISS)2013-14, dated the 25th November, 2013. Further, if any issue arises in this regard, the same shall be decided by a Committee comprising representatives of the National Bank for Agriculture and Rural Development and Sponsor Bank.
8. The transferee Regional Rural Bank shall have the power to post or appoint the employees in the interest of the bank and the public as a whole anywhere in the entire area of operation of the transferee Regional Rural Bank.
9. The area of operation of the transferee Regional Rural Bank shall be the combined area of operation of the transferor Regional Rural Banks that is Madhya Pradesh Gramin Bank and Madhyanchal Gramin Bank in the State of Madhya Pradesh.
10. Unless otherwise expressly provided in this notification, the provisions of the Act shall have the same effect on the transferee Regional Rural Bank as if it has been established under sub-section (1) of section 3 of the Act.
[F. No. 7/6/2024/(6)-RRB]
PANKAJ SHARMA, Jt. Secy.
NOTIFICATION
New Delhi, the 5th April, 2025
S.O. 1631(E).—Whereas the Central Government, after consultation with the National Bank for Agriculture and Rural Development, the Government of Maharashtra and the Bank of Maharashtra and Bank of India, being the Sponsor Banks of Maharashtra Gramin Bank and Vidharbha Konkan Gramin Bank, is of the opinion that it is necessary in the public interest and in the interest of the development of the area served by the aforesaid Regional Rural Banks and also in the interest of the said Regional Rural Banks themselves, that the said Regional Rural Banks should be amalgamated into a single Regional Rural Bank;
Now, therefore, in exercise of the powers conferred by sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 (21 of 1976) (hereinafter referred to as the Act), the Central Government hereby provides for the amalgamation of the said Regional Rural Banks into a single Regional Rural Bank. which shall come into effect on and from the 1st day of May, 2025 (hereinafter referred to as the effective date of amalgamation) with such constitution, property, powers, rights, interests, authorities and privileges; and with such liabilities, duties and obligations as specified hereunder:-
1. Maharashtra Gramin Bank and Vidharbha Konkan Gramin Bank (hereinafter referred to as the transferor Regional Rural Banks) sponsored by Bank of Maharashtra and Bank of India in the State of Maharashtra are hereby amalgamated into a single Regional Rural Bank, which shall be called as Maharashtra Gramin Bank (hereinafter referred to as the transferee Regional Rural Bank) with its head office at Chhatrapati Sambhajinagar under the sponsorship of Bank of Maharashtra.
2. The authorised capital of the transferee Regional Rural Bank shall be rupees two thousand crore divided into two hundred crore number of fully paid shares of rupees ten each. The subscribed share capital of the transferee Regional Rural Bank shall be equal to the subscribed share capital of transferor Regional Rural Banks and, therefore, the entire subscribed share capital of the transferor Regional Rural Banks shall be deemed to have been transferred to and shall be deemed as subscribed share capital of the transferee Regional Rural Bank.
3. The entire share capital and share capital deposit of the transferee Regional Rural Bank shall be as under: –
| 1. | Share Capital | |
| (a) | Central Government | Rupees eight hundred forty five crore nineteen lakh thirty four thousand six hundred twenty |
| (b) | State Government | Rupees two hundred fifty three crore fifty six lakh twenty thousand three hundred ninety |
| (c) | Sponsor Bank | Rupees five hundred ninety one crore sixty three lakh fifty four thousand two hundred thirty |
| 2. | Share Capital Deposit | Nil |
4. From the effective date of amalgamation, the transferor Regional Rural Banks that is Maharashtra Gramin Bank and Vidharbha Konkan Gramin Bank in the State of Maharashtra shall cease to carry on the business including that of making any payment to any depositors or discharge any liability or obligation to the creditors except to the extent as may be necessary for implementation of the provisions of the amalgamation of this notification.
5. From the effective date of amalgamation, the undertakings of the transferor Regional Rural Banks shall be transferred to and shall vest in the transferee Regional Rural Bank;
(a) the undertakings of the transferor Regional Rural Banks shall include all assets, rights, powers, authorities and privileges and all property movable and immovable, cash balance, reserve funds, investments and all other rights and interest in or arising out of such property, as are immediately before the commencement of this notification, in the ownership, possession, power or control of the transferor Regional Rural Banks whether within or outside India and all books of accounts, registers, records and all other documents of whatever nature relating thereto and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind then subsisting of the transferor Regional Rural Banks;
(b) all contracts, deeds, bonds, agreements, guarantees, powers of attorney, grants of legal representation and other instruments of whatsoever nature subsisting or having effect immediately before the commencement of this notification and to which the transferor Regional Rural Banks are a party or which are in favour of the transferor Regional Rural Banks shall be in full force and effect against or in favour of the transferee Regional Rural Bank and may be enforced or acted upon as fully and effectively as if in the place of the transferor Regional Rural Banks, the transferee Regional Rural Bank has been a party thereto or as if they had been issued in favour of the transferee Regional Rural Bank;
(c) if, on the effective date of amalgamation, any suit, appeal or other proceedings of whatsoever nature in relation to any business of the transferor Regional Rural Banks are pending by, or against to the transferor Regional Rural Banks, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertaking of the transferor Regional Rural Banks or of anything contained in this notification but the suit, appeal or other proceedings may be continued, prosecuted and enforced by, or against the transferee Regional Rural Bank;
(d) any reference to the transferor Regional Rural Banks in any agreement, contract, conveyance, assurance, power of attorney or any other document of whatsoever nature shall be deemed to be a reference to the transferee Regional Rural Bank and the rights and obligations of the transferor Regional Rural Banks shall be deemed to be the rights and obligations of the transferee Regional Rural Bank.
6. (a) In respect of every savings banks account or current account or any other deposit account including a fixed deposit, cash certificate, monthly deposit, deposit payable at call or short notice or any other deposits by whatever name called with the transferor Regional Rural Bank, the transferee Regional Rural Bank shall open with itself on the effective date of amalgamation a corresponding and similar account in the name of the respective holders thereof crediting thereto full amount including interest to the extent payable:
Provided that where the transferee Regional Rural Bank entertains a reasonable doubt about the correctness of the entries made in any particular account, it may with the approval of the Sponsor Bank withhold the credit to be made in that account for a period not exceeding three months from the effective date of amalgamation within which the transferee Regional Rural Bank shall ascertain the correct balance in such account;
(b) in respect of every other liability, notwithstanding anything contained in the Transfer of Property Act, 1882 (4 of 1882) or the Registration Act, 1908 (16 of 1908), this notification shall be sufficient conveyance, in accordance with the provisions of this notification, of the business, properties, assets and liabilities, rights, interests, powers, privileges, benefits and obligations of whatever nature of the transferor Regional Rural Banks to the transferee Regional Rural Bank.
7. (a) The service of all the employees of the transferor Regional Rural Banks [excepting such of them as not being workmen within the meaning of the Industrial Disputes Act, 1947 (14 of 1947)] shall continue in the transferee Regional Rural Bank at the same remuneration and on the same terms and conditions of service, or, as the case may be, by which they were governed immediately before the effective date of amalgamation.
(b) the inter-se-seniority of officers and employees, directly recruited or promoted, shall be decided as per the guidelines by the National Bank for Agriculture and Rural Development issued vide letter number NB.IDD.RRCBD/2065/462/(ISS)2013-14, dated the 25th November, 2013. Further, if any issue arises in this regard, the same shall be decided by a Committee comprising representatives of the National Bank for Agriculture and Rural Development and Sponsor Bank.
8. The transferee Regional Rural Bank shall have the power to post or appoint the employees in the interest of the bank and the public as a whole anywhere in the entire area of operation of the transferee Regional Rural Bank.
9. The area of operation of the transferee Regional Rural Bank shall be the combined area of operation of the transferor Regional Rural Banks that is Maharashtra Gramin Bank and Vidharbha Konkan Gramin Bank in the State of Maharashtra.
10. Unless otherwise expressly provided in this notification, the provisions of the Act shall have the same effect on the transferee Regional Rural Bank as if it has been established under sub-section (1) of section 3 of the Act.
[F. No. 7/6/2024/(7)-RRB]
PANKAJ SHARMA, Jt. Secy.
NOTIFICATION
New Delhi, the 5th April, 2025
S.O. 1632(E).—Whereas the Central Government, after consultation with the National Bank for Agriculture and Rural Development, the Government of Odisha and the Indian Overseas Bank and State Bank of India, being the Sponsor Banks of Odisha Gramya Bank and Utkal Grameen Bank, is of the opinion that it is necessary in the public interest and in the interest of the development of the area served by the aforesaid Regional Rural Banks and also in the interest of the said Regional Rural Banks themselves, that the said Regional Rural Banks shall be amalgamated into a single Regional Rural Bank;
Now, therefore, in exercise of the powers conferred by sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 (21 of 1976) (hereinafter referred to as the Act), the Central Government hereby provides for the amalgamation of the said Regional Rural Banks into a single Regional Rural Bank, which shall come into effect on and from the 1st day of May, 2025 (hereinafter referred to as the effective date of amalgamation) with such constitution, property, powers, rights, interests, authorities and privileges; and with such liabilities, duties and obligations as specified hereunder:-
1. Odisha Gramya Bank and Utkal Grameen Bank (hereinafter referred to as the transferor Regional Rural Banks) sponsored by the Indian Overseas Bank and State Bank of India in the State of Odisha are hereby amalgamated into a single Regional Rural Bank, which shall be called as Odisha Grameen Bank (hereinafter referred to as the transferee Regional Rural Bank) with its head office at Bhubaneswar under the sponsorship of Indian Overseas Bank.
2. The authorised capital of the transferee Regional Rural Bank shall be rupees two thousand crore divided into two hundred crore number of fully paid shares of rupees ten each. The subscribed share capital of the transferee Regional Rural Bank shall be equal to the subscribed share capital of transferor Regional Rural Banks and, therefore, the entire subscribed share capital of the transferor Regional Rural Banks shall be deemed to have been transferred to and shall be deemed as subscribed share capital of the transferee Regional Rural Bank.
3. The entire share capital and share capital deposit of the transferee Regional Rural Bank shall be as under: –
| 1. | Share Capital | |
| (a) | Central Government | Rupees one thousand seven hundred eight crore fifty four lakh sixty seven thousand four hundred seventy |
| (b) | State Government | Rupees five hundred twelve crore fifty six lakh forty thousand two hundred forty |
| (c) | Sponsor Bank | Rupees one thousand one hundred ninety five crore ninety eight lakh twenty seven thousand two hundred thirty |
| 2. | Share Capital Deposit | Nil |
4. From the effective date of amalgamation, the transferor Regional Rural Banks that is Odisha Gramya Bank and Utkal Grameen Bank in the State of Odisha shall cease to carry on the business including that of making any payment to any depositors or discharge any liability or obligation to the creditors except to the extent as may be necessary for implementation of the provisions of the amalgamation of this notification.
5. From the effective date of amalgamation, the undertakings of the transferor Regional Rural Banks shall be transferred to and shall vest in the transferee Regional Rural Bank;
(a) the undertakings of the transferor Regional Rural Banks shall include all assets, rights, powers, authorities and privileges and all property movable and immovable, cash balance, reserve funds, investments and all other rights and interest in or arising out of such property, as are immediately before the commencement of this notification, in the ownership, possession, power or control of the transferor Regional Rural Banks whether within or outside India and all books of accounts, registers, records and all other documents of whatever nature relating thereto and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind then subsisting of the transferor Regional Rural Banks;
(b) all contracts, deeds, bonds, agreements, guarantees, powers of attorney, grants of legal representation and other instruments of whatsoever nature subsisting or having effect immediately before the commencement of this notification and to which the transferor Regional Rural Banks are a party or which are in favour of the transferor Regional Rural Banks shall be in full force and effect against or in favour of the transferee Regional Rural Bank and may be enforced or acted upon as fully and effectively as if in the place of the transferor Regional Rural Banks, the transferee Regional Rural Bank has been a party thereto or as if they had been issued in favour of the transferee Regional Rural Bank;
(c) if, on the effective date of amalgamation, any suit, appeal or other proceedings of whatsoever nature in relation to any business of the transferor Regional Rural Banks are pending by, or against to the transferor Regional Rural Banks, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertaking of the transferor Regional Rural Banks or of anything contained in this notification but the suit, appeal or other proceedings may be continued, prosecuted and enforced by, or against the transferee Regional Rural Bank;
(d) any reference to the transferor Regional Rural Banks in any agreement, contract, conveyance, assurance, power of attorney or any other document of whatsoever nature shall be deemed to be a reference to the transferee Regional Rural Bank and the rights and obligations of the transferor Regional Rural Banks shall be deemed to be the rights and obligations of the transferee Regional Rural Bank.
6. (a) In respect of every savings banks account or current account or any other deposit account including a fixed deposit, cash certificate, monthly deposit, deposit payable at call or short notice or any other deposits by whatever name called with the transferor Regional Rural Bank, the transferee Regional Rural Bank shall open with itself on the effective date of amalgamation a corresponding and similar account in the name of the respective holders thereof crediting thereto full amount including interest to the extent payable:
Provided that where the transferee Regional Rural Bank entertains a reasonable doubt about the correctness of the entries made in any particular account, it may with the approval of the Sponsor Bank withhold the credit to be made in that account for a period not exceeding three months from the effective date of amalgamation within which the transferee Regional Rural Bank shall ascertain the correct balance in such account;
(b) in respect of every other liability, notwithstanding anything contained in the Transfer of Property Act, 1882 (4 of 1882) or the Registration Act, 1908 (16 of 1908), this notification shall be sufficient conveyance, in accordance with the provisions of this notification, of the business, properties, assets and liabilities, rights, interests, powers, privileges, benefits and obligations of whatever nature of the transferor Regional Rural Banks to the transferee Regional Rural Bank.
7. (a) The service of all the employees of the transferor Regional Rural Banks [excepting such of them as not being workmen within the meaning of the Industrial Disputes Act, 1947 (14 of 1947)] shall continue in the transferee Regional Rural Bank at the same remuneration and on the same terms and conditions of service, or, as the case may be, by which they were governed immediately before the effective date of amalgamation;
(b) the inter-se-seniority of officers and employees, directly recruited or promoted, shall be decided as per the guidelines by the National Bank for Agriculture and Rural Development issued vide letter number NB.IDD.RRCBD/2065/462/(ISS)2013-14, dated the 25th November, 2013. Further, if any issue arises in this regard, the same shall be decided by a Committee comprising representatives of the National Bank for Agriculture and Rural Development and Sponsor Bank.
8. The transferee Regional Rural Bank shall have the power to post or appoint the employees in the interest of the bank and the public as a whole anywhere in the entire area of operation of the transferee Regional Rural Bank.
9. The area of operation of the transferee Regional Rural Bank shall be the combined area of operation of the transferor Regional Rural Banks that is Odisha Gramya Bank and Utkal Grameen Bank in the State of Odisha.
10. Unless otherwise expressly provided in this notification, the provisions of the Act shall have the same effect on the transferee Regional Rural Bank as if it has been established under sub-section (1) of section 3 of the Act.
[F. No. 7/6/2024/(8)-RRB]
PANKAJ SHARMA, Jt. Secy.
NOTIFICATION
New Delhi, the 5th April, 2025
S.O. 1633(E).—Whereas the Central Government, after consultation with the National Bank for Agriculture and Rural Development, the Government of Rajasthan and the State Bank of India and Bank of Baroda, being the Sponsor Banks of Rajasthan Marudhara Gramin Bank and Baroda Rajasthan Kshetriya Gramin Bank, is of the opinion that it is necessary in the public interest and in the interest of the development of the area served by the aforesaid Regional Rural Banks and also in the interest of the said Regional Rural Banks themselves, that the said Regional Rural Banks shall be amalgamated into a single Regional Rural Bank;
Now, therefore, in exercise of the powers conferred by sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 (21 of 1976) (hereinafter referred to as the Act), the Central Government hereby provides for the amalgamation of the said Regional Rural Banks into a single Regional Rural Bank, which shall come into effect on and from the 1st day of May, 2025 (hereinafter referred to as the effective date of amalgamation) with such constitution, property, powers, rights, interests, authorities and privileges; and with such liabilities, duties and obligations as specified hereunder:-
1. Rajasthan Marudhara Gramin Bank and Baroda Rajasthan Kshetriya Gramin Bank (hereinafter referred to as the transferor Regional Rural Banks) sponsored by the State Bank of India and Bank of Baroda in the State of Rajasthan are hereby amalgamated into a single Regional Rural Bank, which shall be called as Rajasthan Gramin Bank (hereinafter referred to as the transferee Regional Rural Bank) with its head office at Jaipur under the sponsorship of State Bank of India.
2. The authorised capital of the transferee Regional Rural Bank shall be rupees two thousand crore divided into two hundred crore number of fully paid shares of rupees ten each. The subscribed share capital of the transferee Regional Rural Bank shall be equal to the subscribed share capital of transferor Regional Rural Banks and, therefore, the entire subscribed share capital of the transferor Regional Rural Banks shall be deemed to have been transferred to and shall be deemed as subscribed share capital of the transferee Regional Rural Bank.
3. The entire share capital and share capital deposit of the transferee Regional Rural Bank shall be as under: –
| 1. | Share Capital | |
| (a) | Central Government | Rupees two hundred forty five crore sixty two lakh ninety nine thousand fifty |
| (b) | State Government | Rupees seventy three crore sixty nine lakh thirty nine thousand five hundred twenty five |
| (c) | Sponsor Bank | Rupees one hundred seventy one crore ninety four lakhs fifty eight thousand seven hundred twenty five |
| 2. | Share Capital Deposit | Nil |
4. From the effective date of amalgamation, the transferor Regional Rural Banks that is Rajasthan Marudhara Gramin Bank and Baroda Rajasthan Kshetriya Gramin Bank in the State of Rajasthan shall cease to carry on the business including that of making any payment to any depositors or discharge any liability or obligation to the creditors except to the extent as may be necessary for implementation of the provisions of the amalgamation of this notification.
5. From the effective date of amalgamation, the undertakings of the transferor Regional Rural Banks shall be transferred to and shall vest in the transferee Regional Rural Bank;
(a) the undertakings of the transferor Regional Rural Banks shall include all assets, rights, powers, authorities and privileges and all property movable and immovable, cash balance, reserve funds, investments and all other rights and interest in or arising out of such property, as are immediately before the commencement of this notification, in the ownership, possession, power or control of the transferor Regional Rural Banks whether within or outside India and all books of accounts, registers, records and all other documents of whatever nature relating thereto and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind then subsisting of the transferor Regional Rural Banks;
(b) all contracts, deeds, bonds, agreements, guarantees, powers of attorney, grants of legal representation and other instruments of whatsoever nature subsisting or having effect immediately before the commencement of this notification and to which the transferor Regional Rural Banks are a party or which are in favour of the transferor Regional Rural Banks shall be in full force and effect against or in favour of the transferee Regional Rural Bank and may be enforced or acted upon as fully and effectively as if in the place of the transferor Regional Rural Banks, the transferee Regional Rural Bank has been a party thereto or as if they had been issued in favour of the transferee Regional Rural Bank;
(c) if, on the effective date of amalgamation, any suit, appeal or other proceedings of whatsoever nature in relation to any business of the transferor Regional Rural Banks are pending by, or against to the transferor Regional Rural Banks, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertaking of the transferor Regional Rural Banks or of anything contained in this notification but the suit, appeal or other proceedings may be continued, prosecuted and enforced by, or against the transferee Regional Rural Bank;
(d) any reference to the transferor Regional Rural Banks in any agreement, contract, conveyance, assurance, power of attorney or any other document of whatsoever nature shall be deemed to be a reference to the transferee Regional Rural Bank and the rights and obligations of the transferor Regional Rural Banks shall be deemed to be the rights and obligations of the transferee Regional Rural Bank.
6. (a) In respect of every savings banks account or current account or any other deposit account including a fixed deposit, cash certificate, monthly deposit, deposit payable at call or short notice or any other deposits by whatever name called with the transferor Regional Rural Banks, the transferee Regional Rural Bank shall open with itself on the effective date of amalgamation a corresponding and similar account in the name of the respective holders thereof crediting thereto full amount including interest to the extent payable:
Provided that where the transferee Regional Rural Bank entertains a reasonable doubt about the correctness of the entries made in any particular account, it may with the approval of the Sponsor Bank withhold the credit to be made in that account for a period not exceeding three months from the effective date of amalgamation within which the transferee Regional Rural Bank shall ascertain the correct balance in such account;
(b) in respect of every other liability, notwithstanding anything contained in the Transfer of Property Act, 1882 (4 of 1882) or the Registration Act, 1908 (16 of 1908), this notification shall be sufficient conveyance, in accordance with the provisions of this notification, of the business, properties, assets and liabilities, rights, interests, powers, privileges, benefits and obligations of whatever nature of the transferor Regional Rural Banks to the transferee Regional Rural Bank.
7. (a) The service of all the employees of the transferor Regional Rural Banks [excepting such of them as not being workmen within the meaning of the Industrial Disputes Act, 1947 (14 of 1947)] shall continue in the transferee Regional Rural Bank at the same remuneration and on the same terms and conditions of service, or as the case may be, by which they were governed immediately before the effective date of amalgamation;
(b) the inter-se-seniority of officers and employees, directly recruited or promoted, shall be decided as per the guidelines by the National Bank for Agriculture and Rural Development issued vide letter number NB.IDD.RRCBD/2065/462/(ISS)2013-14, dated the 25th November, 2013. Further, if any issue arises in this regard, the same shall be decided by a Committee comprising representatives of the National Bank for Agriculture and Rural Development and Sponsor Bank.
8. The transferee Regional Rural Bank shall have the power to post or appoint the employees in the interest of the bank and the public as a whole anywhere in the entire area of operation of the transferee Regional Rural Bank.
9. The area of operation of the transferee Regional Rural Bank shall be the combined area of operation of the transferor Regional Rural Banks that is Rajasthan Marudhara Gramin Bank and Baroda Rajasthan Kshetriya Gramin Bank in the State of Rajasthan.
10. Unless otherwise expressly provided in this notification, the provisions of the Act shall have the same effect on the transferee Regional Rural Bank as if it has been established under sub-section (1) of section 3 of the Act.
[F. No. 7/6/2024/(9)-RRB]
PANKAJ SHARMA, Jt. Secy.
NOTIFICATION
New Delhi, the 5th April, 2025
S.O. 1634(E).—Whereas the Central Government, after consultation with the National Bank for Agriculture and Rural Development, the Government of Uttar Pradesh and the Bank of Baroda, Bank of India and Punjab National Bank, being the Sponsor Banks of Baroda U.P. Bank, Aryavart Bank and Prathama U.P. Gramin Bank, is of the opinion that it is necessary in the public interest and in the interest of the development of the area served by the aforesaid Regional Rural Banks and also in the interest of the said Regional Rural Banks themselves, that the said Regional Rural Banks shall be amalgamated into a single Regional Rural Bank;
Now, therefore, in exercise of the powers conferred by sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 (21 of 1976) (hereinafter referred to as the Act), the Central Government hereby provides for the amalgamation of the said Regional Rural Banks into a single Regional Rural Bank, which shall come into effect on and from the 1st day of May, 2025 (hereinafter referred to as the effective date of amalgamation) with such constitution, property, powers, rights, interests, authorities and privileges; and with such liabilities, duties and obligations as specified hereunder:-
1. Baroda U.P. Bank, Aryavart Bank and Prathama U.P. Gramin Bank (hereinafter referred to as the transferor Regional Rural Banks) sponsored by the Bank of Baroda, Bank of India and Punjab National Bank in the State of Uttar Pradesh are hereby amalgamated into a single Regional Rural Bank, which shall be called as Uttar Pradesh Gramin Bank (hereinafter referred to as the transferee Regional Rural Bank) with its head office at Lucknow under the sponsorship of Bank of Baroda.
2. The authorised capital of the transferee Regional Rural Bank shall be rupees two thousand crore divided into two hundred crore number of fully paid shares of rupees ten each. The subscribed share capital of the transferee Regional Rural Bank shall be equal to the subscribed share capital of transferor Regional Rural Banks and, therefore, the entire subscribed share capital of the transferor Regional Rural Banks shall be deemed to have been transferred to and shall be deemed as subscribed share capital of the transferee Regional Rural Bank.
3. The entire share capital and share capital deposit of the transferee Regional Rural Bank shall be as under: –
| 1. | Share Capital | |
| (a) | Central Government | Rupees four hundred eighty seven crore seventy five lakh thirty one thousand six hundred |
| (b) | State Government | Rupees one hundred forty six crore thirty two lakh fifty nine thousand three hundred seventy |
| (c) | Sponsor Bank | Rupees three hundred forty one crore forty two lakh seventy two thousand three hundred eighty |
| 2. | Share Capital Deposit | Nil |
4. From the effective date of amalgamation, the transferor Regional Rural Banks that is Baroda U.P. Bank, Aryavart Bank and Prathama U.P. Gramin Bank operating in the state of Uttar Pradesh shall cease to carry on the business including that of making any payment to any depositors or discharge any liability or obligation to the creditors except to the extent as may be necessary for implementation of the provisions of the amalgamation of this notification.
5. From the effective date of amalgamation, the undertakings of the transferor Regional Rural Banks shall be transferred to and shall vest in the transferee Regional Rural Bank;
(a) the undertakings of the transferor Regional Rural Banks shall include all assets, rights, powers, authorities and privileges and all property movable and immovable, cash balance, reserve funds, investments and all other rights and interest in or arising out of such property, as are immediately before the commencement of this notification, in the ownership, possession, power or control of the transferor Regional Rural Banks whether within or outside India and all books of accounts, registers, records and all other documents of whatever nature relating thereto and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind then subsisting of the transferor Regional Rural Banks;
(b) all contracts, deeds, bonds, agreements, guarantees, powers of attorney, grants of legal representation and other instruments of whatsoever nature subsisting or having effect immediately before the commencement of this notification and to which the transferor Regional Rural Banks are a party or which are in favour of the transferor Regional Rural Banks shall be in full force and effect against or in favour of the transferee Regional Rural Bank and may be enforced or acted upon as fully and effectively as if in the place of the transferor Regional Rural Banks, the transferee Regional Rural Bank has been a party thereto or as if they had been issued in favour of the transferee Regional Rural Bank;
(c) if, on the effective date of amalgamation, any suit, appeal or other proceedings of whatsoever nature in relation to any business of the transferor Regional Rural Banks are pending by, or against to the transferor Regional Rural Banks, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertaking of the transferor Regional Rural Banks or of anything contained in this notification but the suit, appeal or other proceedings may be continued, prosecuted and enforced by, or against the transferee Regional Rural Bank;
(d) any reference to the transferor Regional Rural Banks in any agreement, contract, conveyance, assurance, power of attorney or any other document of whatsoever nature shall be deemed to be a reference to the transferee Regional Rural Bank and the rights and obligations of the transferor Regional Rural Banks shall be deemed to be the rights and obligations of the transferee Regional Rural Bank.
6. (a) In respect of every savings banks account or current account or any other deposit account including a fixed deposit, cash certificate, monthly deposit, deposit payable at call or short notice or any other deposits by whatever name called with the transferor Regional Rural Bank, the transferee Regional Rural Bank shall open with itself on the effective date of amalgamation a corresponding and similar account in the name of the respective holders thereof crediting thereto full amount including interest to the extent payable:
Provided that where the transferee Regional Rural Bank entertains a reasonable doubt about the correctness of the entries made in any particular account, it may with the approval of the Sponsor Bank withhold the credit to be made in that account for a period not exceeding three months from the effective date of amalgamation within which the transferee Regional Rural Bank shall ascertain the correct balance in such account;
(b) in respect of every other liability, notwithstanding anything contained in the Transfer of Property Act, 1882 (4 of 1882) or the Registration Act, 1908 (16 of 1908), this notification shall be sufficient conveyance, in accordance with the provisions of this notification, of the business, properties, assets and liabilities, rights, interests, powers, privileges, benefits and obligations of whatever nature of the transferor Regional Rural Banks to the transferee Regional Rural Bank.
7. (a) The service of all the employees of the transferor Regional Rural Banks [excepting such of them as not being workmen within the meaning of the Industrial Disputes Act, 1947 (14 of 1947)] shall continue in the transferee Regional Rural Bank at the same remuneration and on the same terms and conditions of service, or as the case may be, by which they were governed immediately before the effective date of amalgamation;
(b) the inter-se-seniority of officers and employees, directly recruited or promoted, shall be decided as per the guidelines by the National Bank for Agriculture and Rural Development issued vide letter number NB.IDD.RRCBD/2065/462/(ISS)2013-14, dated the 25th November, 2013. Further, if any issue arises in this regard, the same shall be decided by a Committee comprising representatives of the National Bank for Agriculture and Rural Development and Sponsor Bank.
8. The transferee Regional Rural Bank shall have the power to post or appoint the employees in the interest of the bank and the public as a whole anywhere in the entire area of operation of the transferee Regional Rural Bank.
9. The area of operation of the transferee Regional Rural Bank shall be the combined area of operation of the transferor Regional Rural Banks that is Baroda U.P. Bank, Aryavart Bank and Prathama U.P. Gramin Bank in the State of Uttar Pradesh.
10. Unless otherwise expressly provided in this notification, the provisions of the Act shall have the same effect on the transferee Regional Rural Bank as if it has been established under sub-section (1) of section 3 of the Act.
[F. No. 7/6/2024/(11)-RRB]
PANKAJ SHARMA, Jt. Secy.
NOTIFICATION
New Delhi, the 5th April, 2025
S.O. 1635(E).—Whereas the Central Government, after consultation with the National Bank for Agriculture and Rural Development, the Government of West Bengal and the Punjab National Bank, UCO Bank and Central Bank of India, being the Sponsor Banks of Bangiya Gramin Vikash Bank, Paschim Banga Gramin Bank and Uttarbanga Kshetriya Gramin Bank, is of the opinion that it is necessary in the public interest and in the interest of the development of the area served by the aforesaid Regional Rural Banks and also in the interest of the said Regional Rural Banks themselves, that the said Regional Rural Banks shall be amalgamated into a single Regional Rural Bank;
Now, therefore, in exercise of the powers conferred by sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 (21 of 1976) (hereinafter referred to as the Act), the Central Government hereby provides for the amalgamation of the said Regional Rural Banks into a single Regional Rural Bank, which shall come into effect on and from the 1st day of May, 2025 (hereinafter referred to as the effective date of amalgamation) with such constitution, property, powers, rights, interests, authorities and privileges; and with such liabilities, duties and obligations as specified hereunder:-
1. Bangiya Gramin Vikash, Paschim Banga Gramin Bank and Uttarbanga Kshetriya Gramin Bank (hereinafter referred to as the transferor Regional Rural Banks) sponsored by the Punjab National Bank, UCO Bank and Central Bank of India in the State of West Bengal are hereby amalgamated into a single Regional Rural Bank, which shall be called as West Bengal Gramin Bank (hereinafter referred to as the transferee Regional Rural Bank) with its head office at Kolkata under the sponsorship of Punjab National Bank.
2. The authorised capital of the transferee Regional Rural Bank shall be rupees two thousand crore divided into two hundred crore number of fully paid shares of rupees ten each. The subscribed share capital of the transferee Regional Rural Bank shall be equal to the subscribed share capital of transferor Regional Rural Banks and, therefore, the entire subscribed share capital of the transferor Regional Rural Banks shall be deemed to have been transferred to and shall be deemed as subscribed share capital of the transferee Regional Rural Bank.
3. The entire share capital and share capital deposit of the transferee Regional Rural Bank shall be as under: –
| 1. | Share Capital | |
| (a) | Central Government | Rupees one thousand two hundred seventy nine crore sixty four lakh six thousand eighty eight |
| (b) | State Government | Rupees three hundred eighty three crore eighty eight lakh eighty eight thousand nine hundred fifty five |
| (c) | Sponsor Bank | Rupees eight hundred ninety five crore seventy four lakh forty thousand six hundred ninety |
| 2. | Share Capital Deposit | Nil |
4. From the effective date of amalgamation, the transferor Regional Rural Banks that is Bangiya Gramin Vikash, Paschim Banga Gramin Bank and Uttarbanga Kshetriya Gramin Bank operating in the State of West Bengal shall cease to carry on the business including that of making any payment to any depositors or discharge any liability or obligation to the creditors except to the extent as may be necessary for implementation of the provisions of the amalgamation of this notification.
5. From the effective date of amalgamation, the undertakings of the transferor Regional Rural Banks shall be transferred to and shall vest in the transferee Regional Rural Bank;
(a) the undertakings of the transferor Regional Rural Banks shall include all assets, rights, powers, authorities and privileges and all property movable and immovable, cash balance, reserve funds, investments and all other rights and interest in or arising out of such property, as are immediately before the commencement of this notification, in the ownership, possession, power or control of the transferor Regional Rural Banks whether within or outside India and all books of accounts, registers, records and all other documents of whatever nature relating thereto and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind then subsisting of the transferor Regional Rural Banks;
(b) all contracts, deeds, bonds, agreements, guarantees, powers of attorney, grants of legal representation and other instruments of whatsoever nature subsisting or having effect immediately before the commencement of this notification and to which the transferor Regional Rural Banks are a party or which are in favour of the transferor Regional Rural Banks shall be in full force and effect against or in favour of the transferee Regional Rural Bank and may be enforced or acted upon as fully and effectively as if in the place of the transferor Regional Rural Banks, the transferee Regional Rural Bank has been a party thereto or as if they had been issued in favour of the transferee Regional Rural Bank;
(c) if, on the effective date of amalgamation, any suit, appeal or other proceedings of whatsoever nature in relation to any business of the transferor Regional Rural Banks are pending by, or against to the transferor Regional Rural Banks, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertaking of the transferor Regional Rural Banks or of anything contained in this notification but the suit, appeal or other proceedings may be continued, prosecuted and enforced by, or against the transferee Regional Rural Bank;
(d) any reference to the transferor Regional Rural Banks in any agreement, contract, conveyance, assurance, power of attorney or any other document of whatsoever nature shall be deemed to be a reference to the transferee Regional Rural Bank and the rights and obligations of the transferor Regional Rural Banks shall be deemed to be the rights and obligations of the transferee Regional Rural Bank.
6. (a) In respect of every savings banks account or current account or any other deposit account including a fixed deposit, cash certificate, monthly deposit, deposit payable at call or short notice or any other deposits by whatever name called with the transferor Regional Rural Bank, the transferee Regional Rural Bank shall open with itself on the effective date of amalgamation a corresponding and similar account in the name of the respective holders thereof crediting thereto full amount including interest to the extent payable:
Provided that where the transferee Regional Rural Bank entertains a reasonable doubt about the correctness of the entries made in any particular account, it may with the approval of the Sponsor Bank withhold the credit to be made in that account for a period not exceeding three months from the effective date of amalgamation within which the transferee Regional Rural Bank shall ascertain the correct balance in such account;
(b) in respect of every other liability, notwithstanding anything contained in the Transfer of Property Act, 1882 (4 of 1882) or the Registration Act, 1908 (16 of 1908), this notification shall be sufficient conveyance, in accordance with the provisions of this notification, of the business, properties, assets and liabilities, rights, interests, powers, privileges, benefits and obligations of whatever nature of the transferor Regional Rural Banks to the transferee Regional Rural Bank.
7. (a) The service of all the employees of the transferor Regional Rural Banks [excepting such of them as not being workmen within the meaning of the Industrial Disputes Act, 1947 (14 of 1947)] shall continue in the transferee Regional Rural Bank at the same remuneration and on the same terms and conditions of service, or as the case may be, by which they were governed immediately before the effective date of amalgamation;
(b) the inter-se-seniority of officers and employees, directly recruited or promoted, shall be decided as per the guidelines by the National Bank for Agriculture and Rural Development issued vide letter number NB.IDD.RRCBD/2065/462/(ISS)2013-14, dated the 25th November, 2013. Further, if any issue arises in this regard, the same shall be decided by a Committee comprising representatives of the National Bank for Agriculture and Rural Development and Sponsor Bank.
8. The transferee Regional Rural Bank shall have the power to post or appoint the employees in the interest of the bank and the public as a whole anywhere in the entire area of operation of the transferee Regional Rural Bank.
9. The area of operation of the transferee Regional Rural Bank shall be the combined area of operation of the transferor Regional Rural Banks that is Bangiya Gramin Vikash, Paschim Banga Gramin Bank and Uttarbanga Kshetriya Gramin Bank in the State of West Bengal.
10. Unless otherwise expressly provided in this notification, the provisions of the Act shall have the same effect on the transferee Regional Rural Bank as if it has been established under sub-section (1) of section 3 of the Act.
[F. No. 7/6/2024/(12)-RRB]
PANKAJ SHARMA, Jt. Secy.
