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State Bank of Hyderabad (SBH) has been notified as convenor bank of the new state of Telangana. RBI regional director SK Das informed today that his office received the communication yesterday.
The name of SBH was recommended to the finance ministry by the RBI regional office a month ago as the two states will come into existence on June 2.
Andhra Bank was acting as the convenor bank of the State-level Bankers' Committee (SLBC) in the undivided Andhra Pradesh for the past three decades. Andhra Bank would continue to serve as convenor bank for the residual Andhra state. Convenor banks are responsible for preparing the credit plans of the respective states.
