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IOB to merge UCO & Bank of India RRBs Bank IOB's RRB

After the amalgamation the Bank will float a new entity called Odhisa Grammia Bank

T E Narasimhan  |  Chennai 

Indian Overseas Bank (IOB) to merge two of regional rural (RRBs) belonging to and with IOB's Neelanchal Grammaia Bank.

After the amalgamation the Bank will float a new entity called Odhisa Grammia Bank.

Bank's Chairman and Managing Director M Narendra said that BOI's RRB Baitarani Grammia Bank and Bank's Kalinga will be merged with IOB's Neelanchal Grammia Bank.

All the RRBs put together will have a books size of around Rs 10,000 crore with 480 branches across 15 districts in the state of Odhisa and it will be a single entity called Odhisha Grammia Bank, said Narendra

First Published: Fri, October 26 2012. 15:52 IST
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