Two Regional Rural banks going to amalgamate

Indian Bank, on Friday, said the Department of Financial Services, Ministry of Finance, has issued a notification for amalgamation of Pallavan Grama Bank (sponsored by Indian Bank) and Pandyan Grama Bank (sponsored by Indian Overseas Bank) in Tamil Nadu into a single Regional Rural Bank.


The new bank will be called Tamil Nadu Grama Bank, with its head office at Salem, under \the sponsorship of Indian Bank.
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