Date:16/06/2006 URL: http://www.thehindubusinessline.com/2006/06/16/stories/2006061603670200.htm

Back SBM rural banks merger okayed

Our Bureau

Coimbatore, June 15

The two regional rural banks functioning under the State Bank of Mysore — Cauvery Grameena and Kalpathru Grameena banks — merger has come through with the Government of India formally notifying the merger, according to Mr Y. Vijayanand, Managing Director of SBM. The Government has approved the merger on May 24 and the merger will become operational by this month end, Mr Vijayanand has said adding that the merged RRB headquarters would be at Mysore. The combined deposits and advances handled by the two RRBs were Rs 900 crore and Rs 750 crore, respectively.