Govt identifies 3-4 regional rural banks for IPOs; listing likely this year


The government is planning to list three to four financially strong regional rural banks (RRBs) on stock exchanges in the current fiscal after the conclusion of consolidation exercise, sources said.

The bank consolidation exercise is going on as the objective is to bring the number of RRBs to 38 from the current 45, they said, adding that some more consolidations will take place as state governments have given their go-ahead.

Amalgamation of RRBs within a state has been carried out with a view to enable RRBs to minimise their overhead expenses, optimise the use of technology, enhance the capital base and area of operation and increase their exposure, sources said.

As many as 21 banks