The Reserve Bank said the name of Deccan Grameena Bank has been changed to Telangana Grameena Bank.
The name of Deccan Grameena Bank has been changed to Telangana Grameena Bank in the Second Schedule to the Reserve Bank of India Act, 1934,” RBI said in a notification.
The Union government through a notification in October 2014 had changed the name of Deccan Grameena Bank to Telangana Grameena Bank (TGB).
The Union government holds 50 per cent stake in TGB, while 15 per cent share is held by Telangana government and the rest of 35 per cent by the State Bank of Hyderabad.
The Bank has been in existence since March 2006 by the name of Deccan Grameena Bank.
At present, the Bank has been operating in five districts – Adilabad, Karimnagar, Nizamabad, Ranga Reddy and Hyderabad of Telangana state.
It provides financial services to rural masses in over 1,878 villages as well as in the twin cities of Hyderabad and Secunderabad.
