Indian Bank: Saptagiri Grameena Bank merges into Andhra Pradesh

Indian Bank (BSE:INDIANB) has announced the amalgamation of Saptagiri Grameena Bank into Andhra Pradesh Grameena Bank. The decision, effective from May 1, 2025, follows regulations outlined by SEBI (Listing Obligations and Disclosure Requirements) and is in accordance with powers conferred by the Regional Rural Banks Act of 1976. The Central Government officially notified the amalgamation on April 7, 2025. This merger consolidates Chaitanya Godavari Grameena Bank, Andhra Pragathi Grameena Bank, Saptagiri Grameena Bank, and Andhra Pradesh Grameena Vikas Bank into a single Regional Rural Bank. The newly formed entity will operate under the sponsorship of Union Bank of India.