PUBLIC NOTICE
- Amalgamation of -2- RRBs sponsored by Bank of Baroda into one single larger RRB in the State of Uttar Pradesh.
- By the Notification dated 31.03.2008, Government of India, in the exercise of powers under sub-section (1) of Section 23 (A) of the Regional Rural Banks Act, 1976, in consultation with the National Bank for Agriculture and Rural Development (NABARD), Government of Uttar Pradesh and Bank of Baroda, as sponsor bank of 1) Baroda Eastern Uttar Pradesh Gramin Bank and 2) Baroda Western Uttar Pradesh Gramin Bank, referred to as Regional Rural Banks (RRBs), has in public interest and in the interest of development of the area served by the aforesaid Regional Rural Banks and also in the interest of the said Regional Rural Banks themselves notified amalgamation of the said two Regional Rural Banks into a single Regional Rural Bank with effect from the date of publication of the said notification in the official Gazette of the Government of India.
- Accordingly the said two Regional Rural Banks stand amalgamated into a single Regional Rural Bank which shall be called as Baroda Uttar Pradesh Gramin Bank.
- Upon such amalgamation, the said Baroda Uttar Pradesh Gramin Bank, will be having total 655 branches and will be operating in 13 districts of Uttar Pradesh i.e. Kanpur Urban, Kanpur Rural, Fatehpur, Raebareli, Sultanpur, Ambedkar Nagar, Faizabad, Kaushambi, Pratapgarh, Allahabad, Bareilly, Shahjahanpur and Pilibhit with Head Office at Raebareli, total business whereof will exceed Rs 6,400 crores; the Baroda Uttar Pradesh Gramin Bank will have a 3 tier structure with Head Office,-7- Regional Offices and Branches.
- With the bigger size and expanded coverage the amalgamated and reconstituted Baroda Uttar Pradesh Gramin Bank will have the benefit of economies of scale to serve its customers in a cost effective manner with optimum utilization of financial & non financial resources through diversified business portfolio and increased mobility of staff.
- From the said effective date of amalgamation the said two RRBs shall cease to exist carry on business and these undertakings including all their assets rights, powers , authorities and privileges and all properties , movables and immovables, cash balances, reserve funds , investments and all other rights and interest in or arising out of such property, as are in ownership, possession, power or control of the said two RRBs and all books of accounts , registers, records and documents and all borrowings, liabilities and obligations of whatever nature shall be transferred to and shall vest in the said Baroda Uttar Pradesh Gramin Bank.
- All contracts, deeds, bonds, agreements, guarantees, power of attorney, grant of legal representation and other instruments subsisting shall be in full force and effect against or in favour of the said Baroda Uttar Pradesh Gramin Bank and may be enforced or acted upon fully and effectively as if in the place of any of the said -2- RRBs, the said Baroda Uttar Pradesh Gramin Bank has been a Party thereto or in favour of the said Baroda Uttar Pradesh Gramin Bank and any suit or proceedings in relation to any business of any of the said two RRBs pending by or against any of them, the same shall not abate, not discontinued or in any way would not be prejudicially affected by reason of such transfer and amalgamation and may be continued, prosecuted or enforced by or against the said Baroda Uttar Pradesh Gramin Bank. Further, any reference to any of the said -2- RRBs in any agreement, contract, conveyance, assurance or powers of attorney or any other document shall be deemed to be a reference to the said Baroda Uttar Pradesh Gramin Bank.
- The notification also provides that not withstanding anything contained in the transfer of Property Act 1882 or Registration Act 1908, the said notification shall be sufficient conveyance of the business, properties, assets and liabilities, rights, interest, powers, privileges and obligations of whatever nature of any of the said -2- RRBs to the said Baroda Uttar Pradesh Gramin Bank.
Depositors, Borrowers and others concerned are therefore, requested to note the consequential changes and constitution of the Baroda Uttar Pradesh Gramin Bank. A copy of the notification of 31.03.2008 to be published in part II – section- 3- sub section (ii) of the Gazette of India, Extra ordinary is available with the transferee Bank viz “Baroda Uttar Pradesh Gramin Bank” having its Head Office at A-1, Civil Lines, Raebareli – 229 001. (UP).
(Dr. V.K. VARMA)
General Manager
Bank of Baroda,
Baroda Corporate Centre,
Mumbai
Date: 31.03.2008
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