Pragathi Gramin Bank
| Company type | Bank |
|---|---|
| Industry | Financial services |
| Predecessor | Sahyadri, Chitradurga, Tungabhadra and Kolar Gramin Banks |
| Founded | 12 September 2005 |
| Defunct | 23 August 2013 amalgamated with Karnataka Gramin Bank |
| Fate | Merged |
| Successor | Pragathi Krishna Gramin Bank |
| Headquarters | , |
Number of locations | Raichur, Koppal, Bellary, Vijayanagara, Chitradurga, Davanagere, Shimoga, Kolar and Chikkaballapura |
Area served | Karnataka |
| Products | Deposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes |
| Services | Loans, Deposits, ATM Services, National Electronic Fund Transfer (NEFT), Debit Card[1] |
| Parent | Canara Bank (35%) |
| Website | pragathigrameenabank |
Pragathi Gramin Bank was an Indian Regional Rural Bank (RRB) established under the Regional Rural Banks' Act 1976. The bank was permitted to carry out all kinds of banking business and provided banking services to individuals and small businesses.
It was a Scheduled Bank jointly owned by the Government of India, Canara Bank and the Government of Karnataka (share capital contributed in the ratio of 50:35:15 respectively). The bank operated in nine districts of Karnataka, with its Head Office in Ballari.[2][3][4]
In 2023, the bank was merged with Krishna Grameena Bank to form Pragathi Krishna Gramin Bank, which was later merged to form Karnataka Gramin Bank.
History
Year - event
- 1976 - Tungabhadra Gramin Bank established on 25 Jan
- 2005 - Pragathi Gramin Bank formed on 12 Sep
- 2013 - The Bank was amalgamated with Krishna Grameena Bank to form Pragathi Krishna Gramin Bank, on 23 August (Headquartered at Ballari).[5][6]
On 23 August 2013, Pragathi Krishna Gramin Bank, with its Head Office in Ballari, was formed through the amalgamation of two RRBs: Canara Bank-sponsored Pragathi Gramin Bank (Headquartered in Ballari) and the erstwhile State Bank of India-sponsored Krishna Grameena Bank (Headquartered in Kalaburagi).[7] The bank was formed as per gazette Notification of Government of India No. F1/5/2011- RRB (Karnataka) dated 23 August 2013.[8][9]
See also
References
- ^ "Performance Highlights". Archived from the original on 1 August 2015. Retrieved 21 December 2021.
- ^ "Pragathi Gramin Bank - Branches, ATMs, IFSC Codes, MICR Codes, Swift Codes". www.getbankcode.com. Retrieved 21 December 2021.
- ^ "The second schedule to the reserve bank of India act, 1934" (PDF). Archived from the original (PDF) on 31 January 2012.
- ^ Bhattacharjee, Subhomoy (7 September 2019). "The largest rewrite of the banking history and merger's cultural traps". Business Standard India. Retrieved 22 December 2021.
- ^ Vinayak, A. J. (7 February 2019). "2 RRBs in Karnataka to be amalgamated". @businessline. Retrieved 10 October 2021.
- ^ "Wipro Implements Core Banking Solution for Canara Bank sponsored Regional Rural Bank (RRB)". BW SC. Retrieved 10 October 2021.
- ^ Vinayak, A. J. (7 February 2019). "2 RRBs in Karnataka to be amalgamated". @businessline. Retrieved 10 October 2021.
- ^ "Two rural banks merged". Deccan Herald. 25 August 2013. Retrieved 21 December 2021.
- ^ "Karnataka RRBs merged post ministry notification". The Economic Times. Retrieved 21 December 2021.
