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Assam Gramin Vikash Bank is the only regional rural bank of Assam, India.It is under the ownership of Ministry of Finance, Government of India.The bank was formally launched on 12 January 2006 after amalgamation of Pragjyotish Gaonlia Bank, Lakhimi Gaonlia Bank, Cachar Gramin Bank and Subansiri Gaonlia Bank, which were sponsored by erstwhile United Bank of India now Punjab National Bank.
Regional rural banks (RRBs) are government owned scheduled commercial banks of India that operate at the regional level in different states of India.These banks are under the ownership of the Ministry of Finance, Government of India, Sponsored Bank and concerned State Government in the ratio of 50:35:15 respectively.
He is also noted for his contributions to the society and culture of Assam. [1] [2] [4] RG Baruah was instrumental in opening the first bank in Assam, the Imperial Bank Of India (Now State Bank Of India) in 1923. He is called "the architect of modern Assam" [1] [5] for his being "instrumental in realising the educational needs" of the Assamese ...
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India’s commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.
The oldest bank in India is The Madras Bank (1683), followed by the Bank of Bombay, founded in 1720, which is then followed by the Bank of Hindustan, founded in 1770. Imperial Bank of India was succeeded by State Bank of India in 1955 and State Bank of Pakistan in 1948 respectively whose origins can be traced back to the Bank of Calcutta. It ...
Lakhimi Baruah is an Indian banker, social worker and founder of Assam's first women run Co-operative bank Konoklata Mahila Urban Cooperative Bank for women. In 2021 she was awarded the Padma Shri , the fourth-highest civilian award in the Republic of India, for contributions and efforts to financially empower women of Assam .
The Reserve Bank of India assisted the banks in amalgamating to form United Bank of India. [2] In 1961, UBI merged with Cuttack Bank (est. 6 June 1913) and Tezpur Industrial Bank (est. 6 June 1918, as the first commercial bank in Assam province). [3] Four years later, in 1965, the government of Pakistan took over the bank's branches in Pakistan.
In 2013 Canara Bank has also opened a branch to serve rural mass around Makum. Assam Gramin Vikash Bank, the Regional Rural Bank of Assam is also functional here at the heart of the town. In the view of acquiring business, private sector banks like ICICI Bank, HDFC Bank has also started ATM service in the premises of Assam Oil Petro Pump.