The Reserve Bank on Monday proposed to alternate the convenors of State Level Bankers’ Committee (SLBC) in view of the merger of 10 public area banks into four with effect from April 1. With the mega-merger, 6 public zone banks will stop to exist from April 1, necessitating adjustments within the convenorship. The convenorship of merged banks could be transferred to anchor banks.

The government on March 4 notified the amalgamation scheme as part of its consolidation plan to create bigger and stronger banks within the public zone.

As per the scheme, Oriental Bank of Commerce and United Bank of India might be merged into Punjab National Bank (PNB); Syndicate Bank into Canara Bank; Allahabad Bank into Indian Bank; and Andhra Bank and Corporation Bank into Union Bank of India

Following the merger, PNB turns into the SLBC convenor of Delhi. Currently, the duty rests with Oriental Bank of Commerce, RBI said in a notification.

For Tripura and West Bengal too, convenorship may be transferred to PNB from United Bank of India, it said.

The new SLBC convenor for Andhra Pradesh may be Union Bank of India as Andhra Bank is being amalgamated with the Mumbai-primarily based lender.

Even for Karnataka, Syndicate Bank will transfer the responsibility to Canara Bank which goes to collect the former.

Similarly, district lead bankers could also be revamped. As many as 111 districts will see new lead bankers beginning subsequent fiscal.

SLBC came into existence beneath Lead Bank Scheme as in keeping with RBI guidelines.

SLBC is an inter-institutional discussion board at nation level making sure coordination most of the authorities and banks on subjects concerning banking development.

The discussion board plays a important function in various topics including financial inclusion and promotion of presidency schemes.


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