Jharkhand Rajya Gramin Bank

Jharkhand Rajya Gramin Bank
Type	Regional Rural Bank
Industry	Banking, Financial services
Headquarters	Ranchi, India
Area served	Jharkhand
Key people	Mr Piyush Bhatt ; (Chairman)
Products	Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management
Owner	Government of India (50%); Government of Jharkhand (15%); State Bank of India (35%);
Number of employees	782
Parent	Ministry of Finance , Government of India.
Website	jrgb.in

Jharkhand Rajya Gramin Bank^[1] (JRGB) is a Regional Rural Bank (RRB_). The bank was established on 1 April 2019 with the amalgamation of the erstwhile Vananchal Gramin Bank and erstwhile Jharkhand Gramin Bank under the provisions of RRB Act 1976. It is under the ownership of Ministry of Finance , Government of India. This bank is sponsored by State Bank of India & is jointly Owned by the Government of India, Government of Jharkhand and State Bank of India.

The shareholders of the Bank are Govt. of India (50%), State Bank of India (35%) and Govt. of Jharkhand (15%). The Bank is operating in all 24 districts of Jharkhand State with its Head Office at Ranchi (sub-capital of Jharkhand State ). The bank has eight Regional Offices functioning at Ranchi, Singhbhum, Gumla, Palamau, Hazaribagh, Giridih,Deoghar & Godda.

History[]

JRGB has been established on 01.04.2019 with the amalgamation of erstwhile Vananchal Gramin Bank and erstwhile Jharkhand Gramin Bank in terms of provisions of RRBs Act 1976. This bank is sponsored by State Bank of India & Owned by Govt. of India, Govt. of Jharkhand and State Bank of India . The shareholders of the Bank are Govt. of India (50%), State Bank of India (35%) and Govt. of Jharkhand (15%). The Bank is operating in all 24 districts of Jharkhand State with its Head Office at Ranchi (capital of Jharkhand State ). It has eight Regional Offices functioning at Ranchi, Singhbhum, Gumla, Palamau, Hazaribagh, Giridih,Deoghar & Godda. & no. of branches covered by these Regional Offices are as under:-

Regional Office Headquarter Concerned Districts Total No. of Branches I Deoghar Deoghar, Dumka & Jamtara 70 II Godda Godda, Pakur & Sahebganj 52 III Daltonganj Palamau 44 IV Garhwa Garhwa & Latehar 37

Overview[]

Date of Establishment 30 June 2006 (With the amalgamation of erstwhile Santhal Parganas Gramin Bank and Palamau Kshetriya Gramin Bank vide Govt. of India Notification No. F.NO. 1/4/2006-RRB(III) dated 30.06.06) Total Geographical areas covered (i) Santhal Parganas Division вЂ" 14,129 km² (ii) Palamau Division- 11,651 km² (iii) Total Area-25,780 km²

Districts covered

09 (Nine) Santhal Parganas Division (i) Dumka (ii) Deoghar (iii) Jamtara (iv) Godda (v) Pakur (vi) Sahibganj Palamau Division (vii) Palamau (viii) Latehar (ix) Garhwa No. of Blocks covered

Regional Offices (i) Deoghar (Region-I) (ii) Godda (Region-II) (iii) Daltonganj (Region-III) (iv) Garhwa (Region-IV) Business Performance As on 31.03.12 As on 31.03.13 Deposit вЂ" 169151 lac Advances- 67084 lac Profit- 1621 lac C:D Ratio- 39.66% N.P.A.- 9.74% Deposit вЂ" 187979 lac Advances- 87232 lac Profit- 1908 lac C:D Ratio- 46.41% N.P.A.- 7.34% Number of Branches (203)

 Rural Branches (180), Semi-Urban Branches(23) &  Urban Branches(NIL)

Number of Staff(Excluding Sponsor Bank) [913]

Amalgamation[]

By central government notification on 31 January 2019, Jharkhand Gramin Bank and Vananchal Gramin Bank were amalgamated to form Jharkhand Rajya Gramin Bank.^[2]^[3] From 1 April 2019, all the 433 branches of merged bank are operating under new name.^[4]