Andhra Pradesh   

Amalgamation of rural banks sought

By Our Staff Reporter

HYDERABAD, JUNE 9. The All-India Regional Rural Bank Employees' Association on Tuesday sought amalgamation of all rural banks to form six zonal rural banks in the country, as recommended by the bankers' committee.

S. Venkateswar Reddy, secretary of the association, said in a statement that the proposed banks must be liberated from the clutches of the sponsor banks. The Government must constitute an apex body over the zonal banks to coordinate and direct the overall development of rural economy.

He urged the Government to extend interest rebate to regional rural banks, as being done in the case of cooperative banks.

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