The Reserve Bank has appointed State Bank of Hyderabad as the SLBC (State Level Bankers' Committee) convener for the newly created state of Telanagana.
"It has been decided to assign the SLBC convenership of Telangana State to State Bank of Hyderabad. The SLBC responsibility for the State of Andhra Pradesh (after carving out Telangana) has been retained with Andhra Bank," RBI said in a notification.
Telangana has been formed and the appointed day has been fixed as June 2, 2014. It would be the 29th state of the country.
There is no change in the SLBC responsibilities of the other states, RBI clarified futher.
SLBC is an inter-institutional forum for coordination and joint implementation of development programmes and policies by all the financial institutions. Government officials also form as part of the SLBC bankers' forum.
