Vinod Kumar welcomes amalgamation of RRBs in Telangana to form TGB

03 Dec 2024, 15:22 by The Hindu Bureau · The Hindu

HYDERABAD

Former vice-chairman of the State Planning Board and Bharat Rashtra Samithi (BRS) leader B. Vinod Kumar has welcomed the process initiated by the Ministry of Finance for amalgamation of two grameena banks functioning in the State to form Telangana Grameena Bank covering the entire State.

In a statement, Mr. Vinod Kumar said on Tuesday that the Ministry of Finance has taken up the proposal for amalgamation of the two regional rural banks operating in Telangana – Andhra Pradesh Grameena Vikas Bank and Telangana Grameena Bank – to form into one grameena bank. The proposed grameena bank would have the largest network among all banks in the State with over 950 branches and 17 regional offices. He stated that the Ministry of Finance had addressed a letter to the Chairman of National Bank for Agriculture and Rural Development (NABARD) on November 13 for bifurcation of assets and liabilities of APGVB as on March 31, 2024 between AP and Telangana as per the provisions of Section 53 (1) of the AP Reorganisation Act. It mandated apportionment of the assets and liabilities of APGVB headquarters on the basis of population ratio.

The communication further stated that in case of the operational aspects related to human resources, APGVB shall call for option from their staff to choose between the bifurcated APGVB and TGB as recommended by the working group appointed for the purpose. The Ministry has stated that the new entity for Telangana shall be functional effective from January 1, 2025.

Mr. Vinod Kumar said the employees of both grameena banks have been regularly approaching him for taking up the matter with the Ministry of Finance, GoI. He had raised the matter in Parliament, met the Secretary of Department of Financial Services, participated in meetings and protests organised by employees unions on the amalgamation demand during the last 10 years and had taken up the matter with the Chief Secretary of Telangana several times.

Published - December 03, 2024 08:52 pm IST