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 Regional Rural Banks' Act 1976. The bank was permitted to carry all kinds of banking business and provided banking services to individuals and small businesses.
It was a Scheduled Bank jointly owned by Government of India, Canara Bank and Government of Karnataka (share capital contributed in the ratio of 50:35:15 respectively). The bank was permitted to carry all kinds of banking business. The Bank was operating in 9 districts of Karnataka, having its Head Office at Ballari.[2][3][4]
In 2023 the bank was merged with Krishna Grameena Bank to form Pragathi Krishna Gramin Bank which would go on to be merged to form Karnataka Gramin Bank.
History
[edit]Year - event
[edit]- 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 Head Office at Bellary was started with the amalgamation of 2 RRBs viz, Canara Bank Sponsored Pragathi Gramin Bank (Headquartered at Bellary) and erstwhile State Bank of India Sponsored Krishna Grameena Bank (Headquartered at 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
[edit]References
[edit]- ^ "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.
- ^ https://rbidocs.rbi.org.in/rdocs/publications/pdfs/84656.pdf [bare URL PDF]
- ^ 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.
