SENSEX NIFTY
Feb 06, 2006, 12.15 PM IST | Source: Moneycontrol.com

Amalgamation of -5- RRBs sponsored by Bank Of Baroda

Amalgamation of -5- RRBs sponsored by Bank of Baroda into one single larger RRB in the state of Rajasthan

Bank of Baroda has amalgamated its -5- sponsored RRBs (viz) Marudhar Kshetriya Gramin Bank, Aravali Kshetriya Gramin Bank, Bundi chittorgarh Kshetriya Gramin Bank, Bhilwara Ajmer Kshetriya Gramin Bank, Dungarpur Banswara Kshetriya Gramin Bank operating in the state of Rajasthan into one single RRB. The new RRB “Baroda Rajasthan Gramin Bank” comes into existence with effect from 03.02.2006 as per notification dated 03.02.2006 issued by Govt. of India.

 

This is the second amalgamation of its sponsored RRBs by the Bank. Earlier Bank of Baroda has successfully amalgamated its 3 sponsored RRBs operating in the state of Gujarat into one single RRB “Baroda Gujarat Gramin Bank”. 

 

With the bigger size & expanded coverage, the amalgamated RRB will have the benefit of economies of scale to serve its customers in a cost effective manner with optimum utilisation of financial & non financial resources through diversified business portfolio and increased mobility of staff with their career progression. The new amalgamated RRB would more efficiently & effectively play its developmental role in its area of operation.

 

The said "Baroda Rajasthan Gramin Bank" will be having total 267 branches and will be operating in 12 districts of Rajasthan i.e. Sawai Madhopur, Dausa, Tonk, Karauli, Ajmer , Bundi, Chittorgarh, Dungarpur, Banswara, Bhilwara,  Churu and part of Bikaner with Head Office at Ajmer. The total business exceeds Rs. 1490 crores. The RRB will have a 3 tier structure with Head Office, -3- Regional Offices & branches.

 

The necessary steps have been taken for constitution of new Board and the process will be completed shortly. The amalgamated RRB has started functioning smoothly and every care is being taken to serve its customers under the new amalgamated entity with care & concern.

 

Sourced From : Pressman India PR

Bank of Baroda stock price

On July 24, 2014, Bank Of Baroda closed at Rs 882.50, up Rs 28.55, or 3.34 percent. The 52-week high of the share was Rs 1009.00 and the 52-week low was Rs 429.25.


The company's trailing 12-month (TTM) EPS was at Rs 105.44 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 8.37. The latest book value of the company is Rs 835.56 per share. At current value, the price-to-book value of the company is 1.06.

Set email alert for

ADS BY GOOGLE

video of the day

Market in fine fettle; 2014-end Sensex target at 26300:Citi

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.