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AGVB registers 45 per cent growth

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  13 Jan 2015 12:00 AM GMT

By our Staff Reporter

GUWAHATI, January 12: Assam Gramin Vikash Bank (AGVB), during its post amalgamated period, successfully increased its business from Rs 2,565 crore to Rs 10,378 crore as on December 31, 2014, registering a spectacular average annual growth of 45 per cent.

Talking to newsmen in Guwahati today on the ninth anniversary of the bank, AGVB chairman Shio Shankar Singh said 45 per cent growth is a rare distinction.

According to Singh, AGVB, the only amalgamated regiol rural bank of the region, was established by the Government of India under the provisions of the Regiol Rural Banks Act, 1976 on January 12, 2006 by amalgamating four regiol rural banks of the state sponsored by United Bank of India (UBI) to form Assam Gramin Vikash Bank.

“The area of operation of the bank is spread over 25 out of 27 districts of the State. It has its presence in remote to the remotest areas of the State, cutting across communicatiol, cultural and linguistic boundaries. Rural Assam always remains in the centre of focus of the bank as it believes that rural Assam is the real Assam and real development can only be achieved through development of rural areas of the State,” Singh said, and added: “AGVB is the only bank that has set up over 95 per cent of its branches in rural and semi–urban areas.”

The bank, Singh said, strongly believes in delivering its services to more and more people of the State by increasing its reach through opening of more delivery channels in the form of Brick and Morter branches and Fixed Business Correspondent Point/ Customers Service Point, including offering availability of adequate credit for every need at an affordable cost.

On job generation front, Singh said, the bank infused more young and fresh energy into the organization. “The bank has so far recruited 789 youths since 2010 in its various cadres. During these years, particularly in the current fincial year, the bank has been very successful. It has already crossed 400 marks in branch network. While six branches were opened in this fincial year, seven more branches are going to be opened within the next two months,” he said.

According to Singh, in addition to the bank’s 402 strong Brick and Morter Branches, the Bank has also set up 856 Fixed Business Correspondent (BC) Point/Customers Service Point (CSP).

Singh said: “Four Rural Self–employment Training Institute (RSETIs) were opened till date. The fifth one will be opened in Kamrup district within this month. All the four RSETIs opened so far have been graded as ‘outstanding’ by the Union Ministry of Rural Development.”

The bank, according to Singh, has taken a number of initiatives under its Corporate Social Responsibility (CSR) programme such as dotion to Chief Minister’s Relief Fund, construction of public toilets, adoption of villages etc.

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