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PRAGATHI KRISHNA GRAMIN BANK

Jan 20, 2020 351

HISTORY:

The RRBs were established by the Government of India in accordance with the provisions of the RRB Act of 1976, promulgated by Parliament. The objective of creating this special category of banks is to meet the basic banking needs of rural people, in particular to contribute to the development of the rural economy and the prosperity of the region and the generation of employment. RRBs have become an integral part of the Indian banking system. RRBs such as Public Sector Banks are established by Govt.

From India and are the Scheduled Banks, notified by the Reserve Bank of India. Govt. From India, with a view to improving the operational viability and efficiency of the RRBs, it initiated the process of structural consolidation by merging the RRBs. Amalgamated RRBs are expected to provide better customer service with improved infrastructure, computerization, pooling of experienced manpower, common advertising and marketing efforts, etc.

The Bellary-based Pragathi Krishna Gramin Bank was born on August 23, 2013 with the merger of 2 RRBs, the former Pragathi Gramin Bank (sponsored by Bellary-based Canara Bank) and The former Krishna Grameena Bank (sponsored by the State Bank of India based in Gulbarga The Bank was formed in accordance with the gazette Notification of the Government of India No. F1 / 5 / 2011- RRB (Karnataka) of 23.08.2013.

 

CHAIRMAN: R. Ravi Kumar