Assam Gramin Vikash Bank
| Company type | Regional Rural Bank |
|---|---|
| Industry | Financial Regional Rural Banks |
| Predecessor | Pragjyotish Gaonlia Bank (1976) Lakhimi Gaonlia Bank (1980) Cachar Gramin Bank (1981) Subansiri Gaonlia Bank (1982) Langpi Dehangi Rural Bank (1982) |
| Founded | April 1, 2019 |
| Headquarters | , |
Number of locations | 473 Branches |
Area served | Assam |
Key people |
|
| Products | Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management |
| Services | |
| Owner | Government of India (50%)
Government of Assam (15%) Punjab National Bank (35%) |
| Parent | Ministry of Finance, Government of India |
| Website | www |
Assam Gramin Vikash Bank[1] (AGVB) is an Indian Regional Rural Bank (RRB) in Assam established on 1 April 2019.[2] The bank was formed by the amalgamation of Assam Gramin Vikash Bank and Langpi Dehangi Rural Bank. It currently has 473 branches in Assam.It is under the ownership of Ministry of Finance, Government of India. It is sponsored by Punjab National Bank & is jointly Owned by the Government of India, Government of Assam and Punjab National Bank.
It functions under Regional Rural Banks' Act 1976 and is sponsored by United Bank of India (now Punjab National Bank).
The shareholders of the Bank are Govt. of India (50%), Punjab National Bank (35%) and Government of Assam (15%). The Bank is operating in all districts of Assam State with its Head Office at Guwahati. The bank has Nine Regional Offices functioning at Nalbari, Golaghat, Lakhimpur, Guwahati, Dibrugarh, Kokrajhar, Silchar, Tezpur and Diphu.
History
[edit]As part of the restructuring process initiated in 2005, RRBs sponsored by the same banks were amalgamated to improve operational efficiency and service delivery. In Assam all together five RRBs were opened at different point of time beginning with Pragjyotish Gaonlia Bank.
Assam Gramin Vikash Bank
[edit]Assam Gramin Vikash Bank was an Indian Regional Rural Bank headquartered in Guwahati, India. Govt. of India vide Notification No. F.1. (25)/2005 dated 12th January 2006. It was established in 2006 as a Regional Rural Bank as per Regional Rural Banks Act of 1976. By amalgamation, on 12 January 2006, of the following 4 banks, Pragjyotish Gaonlia Bank (Estd. 06-07-1976), Lakhimi Gaonlia Bank (Estd. 29-07-1980), Cachar Gramin Bank (Estd. 31-03-1981) and Subansiri Gaonlia Bank (Estd. 30-03-1982) sponsored by United Bank of India, to participate more energetically, in the upliftment and development of Rural Farm Sector and Rural Non-Farm Sector, with emphasis on the deprived, the Rural Poor, Rural ISB and Rural Crafts. It was under the ownership of Ministry of Finance, Government of India.
Langpi Dehangi Rural Bank
[edit]Langpi Dehangi Rural Bank (LDRB) was an Indian rural bank (RRB). It was created on 27 January 1982 under Section 3 (1) of Regional Rural Bank Act 1976. It was created under the aegis of the State Bank of India. The main office of the Bank is situated at Diphu, the district headquarters of Karbi Anglong District.
The bank’s primary area of operation consists of the Karbi Anglong and Dima Hasao districts in the state of Assam. It was the sole independent RRB in those districts. The Bank has a total network of 59 branches: 33 branches in Karbi Anglong District, 16 branches in West Karbi Anglong and 10 branches in Dima Hasao.
- On 22 February 2019, through Gazette Notification No. 855, the Government of India the Government of India has amalgamated Assam Gramin Vikash Bank sponsored by Punjab National Bank and Langpi Dehangi Rural Bank sponsored by State Bank of India into a single Regional Rural Bank named Assam Gramin Vikash Bank. This new entity is sponsored by United Bank of India, and its head office is located in Guwahati. Thus Assam Gramin Vikash Bank (AGVB) has come into existence from 1st April 2019 covering entire geographical area of the state through its strong network of 473 branches. Further after amalgamation of United Bank of India with Punjab National Bank, the sponsorship of the bank has gone to Punjab National Bank w.e.f 1st April 2020.
Bank structure
[edit]The bank has three tier structure consisting of one head office at Guwahati, nine regional offices and 473 branches. They are: Nalbari, Golaghat, Lakhimpur, Guwahati, Dibrugarh, Kokrajhar, Silchar, Tezpur and Diphu. Among these offices there are 473 branches operation across all 33 districts of Assam through which the bank is serving its customers. The bank is one of the leading banks in the state of Assam.[3]
See also
[edit]
- Banking in India
- List of banks in India
- Reserve Bank of India
- Regional Rural Bank
- Indian Financial System Code
- List of largest banks
- List of companies of India
- Make in India
References
[edit]- ^ "Assam Gramin Vikash Bank".
- ^ "Regional Rural Bank | Merger of regional rural bank". 29 October 2020.
- ^ "Contacts Assam Gramin Bank". agvbank.co.in. 22 October 2016. Retrieved 22 October 2016.
External links
[edit]
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