About:

The idea of Regional Rural Banks (RRBs) was mooted by the Govt. of India in the year 1975 to bring about the desired uplift of the rural economy and accordingly promulgated an Ordinance which was subsequently replaced by the Parliament as Regional Rural Banks Act,1976.

In Assam all together five RRBs were opened at different point of time beginning with Pragjyotish Gaonlia Bank. The pro-active attitude and the rural bias of these banks culminated not only in the creation of thrift habit among the rural masses but also in the dispensation of credit to such people mostly for priority sector activities.

Govt. of India vide Notification No. F.1.(25)/2005 dated 12th January 2006 amalgamated the four Regional Rural Banks sponsored by the United Bank Of India in the state of Assam to form Assam Gramin Vikash Bank (AGVB). The erstwhile RRBs amalgamated were

• 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).

Thus Assam Gramin Vikash Bank (AGVB) has come into existence from 12th January 2006 covering the areas of operation of the of the pre-amalgamated RRBs with its Head Office at Guwahati. The Bank covers 25 out of 27 districts of the State through its strong network of 355 branches. While AGVB’s genesis has its roots in the interest of the customers, stakeholders and the staff, the broader objectives of the amalgamation are:

• Better customer service from better infrastructure, branch computerization, pool of experienced work force, unified publicity and marketing efforts.
• Reaping economies of scale with larger area of operation, enhanced credit exposer limits.
• Opportunities for diverse banking activities, leading to higher business growth.

Looking back at the post amalgamation period, it is noteworthy that the metamorphosis of the RRBs with different cultures and practices, into a single large entity with shared culture has been extremely smooth. The advent of AGVB had a positive impact, particularly in the areas of Business growth and operational matters.

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Important Links:

• Website: http://www.agvbank.co.in

Contact Details:

Head Office:

G.S. Road. Bhangagarh
Guwahati-781005
(Assam)

Phone No : +91 - 361 - 2464107, 2131604/605/606, 99571-83638, 99571,83637, 99571-83639
Fax No: +91 - 361 - 2463621
E-mail : agvbank(at)yahoo.co.in

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Courtesy: agvbank.co.in