SBI to have lead bank responsibility in three new districts in Telangana, MP

Mumbai: The Reserve Bank has assigned lead bank responsibility to the SBI for three new carved out districts in Telangana and Madhya Pradesh.

Telangana government had notified about the formation of two new districts in February 2019, and one by Madhya Pradesh government in September 2018. It has been decided to assign the lead bank responsibility of the new districts, RBI said in notification Thursday.

The SBI will act as the lead bank in the two new districts of Telangana - Mulugu and Narayanpet, and one district in Madhya Pradesh - Niwari.

There is no change in the lead bank responsibilities of the erstwhile districts and of other districts in Telangana and Madhya Pradesh, the RBI said.