Bank News – On April 9, 2025, Indian Overseas Bank announced the amalgamation of Odisha Gramya Bank and Utkal Grameen Bank into a single entity, Odisha Grameen Bank, effective May 1, 2025.
This merger, approved under RBI guidelines, aims to strengthen the regional rural banking sector in Odisha by consolidating resources, enhancing operational efficiency, and expanding outreach.
The new bank, headquartered in Bhubaneswar, will serve over 1.5 million rural customers, offering improved digital banking and credit facilities for agriculture and MSMEs.
The move aligns with the government’s push to bolster RRBs, ensuring financial inclusion in underserved areas under Governor Sanjay Malhotra’s oversight.
