RBI assigns SBI as lead bank in three new districts in Telangana, MP
The SBI will act as the lead bank in the two new districts of Telangana - Mulugu and Narayanpet, and one district in Madhya Pradesh - Niwari
 "SBI")
State Bank of India is an Indian multinational, public sector banking and financial services company | Photo: Shutterstock
The Reserve Bank has assigned lead bank responsibility to the SBI for three new carved out districts in Telangana and Madhya Pradesh.
Telengana government had notified about formation of two new districts in February 2019, and one by Madhya Pradesh government in September 2018. It has been decided to assign the lead bank responsibility of the new districts, RBI said in notification Thursday.
The SBI will act as the lead bank in the two new districts of Telangana - Mulugu and Narayanpet, and one district in Madhya Pradesh - Niwari.
There is no change in the lead bank responsibilities of the erstwhile districts and of other districts in Telangana and Madhya Pradesh, the RBI said.
More From This Section
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jun 20 2019 | 7:30 PM IST