Canara Bank sponsored Regional Rural Bank (RRB) - South Malabar Gramin Bank and Syndicate Bank sponsored RRB - North Malabar Gramin Bank will be amalgamated into a single entity as ‘Kerala Gramin Bank’ with its head office located at Mallapuram and sponsor bank as Canara Bank with effect from July 08, 2013. The Government of India vide its latter dated July 08, 2013 after consulting NABARD, concerned sponsor banks and State Government of Kerala has notified the same.
The Ministry of Finance, Government of India, has taken the above step as it envisaged amalgamation of geographically contiguous RRBs sponsored by different banks within a state; with single sponsor bank which will help in optimizing the use of modem technology.
