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| Pallavan Grama Bank and Pandyan Grama Bank merged to form TN Grama Bank |
Pallavan Grama Bank and Pandyan Grama Bank merged to form TN Grama Bank
Two regional rural banks (RRB) Pallavan Grama Bank and Pandyan Grama Bank will be amalgamated to form a single RRB, Tamil Nadu Grama Bank in Tamil Nadu. The consolidation will be effective from April 1, 2019.
Pallavan Grama Bank is sponsored by Indian Bank and Pandyan Grama Bank is sponsored by the Indian Overseas Bank.
This amalgamation has been conferred by Ministry of Finance under Regional Rural Banks Act 1976.
The newly amalgamated bank will be named Tamil Nadu Grama Bank and will be under the sponsorship of Indian Bank, with its head office located at Salem, Tamil Nadu.
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