Government of India has announced the amalgamation of Regional Rural Banks (RRBs) effective 1st May 2025.
RRBs sponsored by Bank of Baroda are merging in Gujarat and Uttar Pradesh.
In Gujarat, Baroda Gujarat Gramin Bank and Saurashtra Gramin Bank will merge to form Gujarat Gramin Bank, sponsored by Bank of Baroda.
In Uttar Pradesh, Baroda U P Bank, Aryavart Bank, and Prathama U P Gramin Bank will merge to form Uttar Pradesh Gramin Bank, sponsored by Bank of Baroda.
This amalgamation is under Section 23A of the Regional Rural Banks Act, 1976.
The authorized capital for the new RRBs will be ₹ 2,000 crore.