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Assam Gramin Vikash Bank[1] (AGVB) is an Indian Regional Rural Bank (RRB) in Assam established on 1 April 2019.[2] The bank was formed by the amalgamation of Assam Gramin Vikash Bank and Langpi Dehangi Rural Bank. It currently has 473 branches in Assam.It is under the ownership of Ministry of Finance, Government of India. It is sponsored by Punjab National Bank & is jointly Owned by the Government of India, Government of Assam and Punjab National Bank.
It functions under Regional Rural Banks' Act 1976 and is sponsored by United Bank of India (now Punjab National Bank).
The shareholders of the Bank are Govt. of India (50%), Punjab National Bank (35%) and Government of Assam (15%). The Bank is operating in all districts of Assam State with its Head Office at Guwahati. The bank has Nine Regional Offices functioning at Nalbari, Golaghat, Lakhimpur, Guwahati, Dibrugarh, Kokrajhar, Silchar, Tezpur and Diphu.
As part of the restructuring process initiated in 2005, RRBs sponsored by the same banks were amalgamated to improve operational efficiency and service delivery. In Assam all together five RRBs were opened at different point of time beginning with Pragjyotish Gaonlia Bank.
Assam Gramin Vikash Bank was an Indian Regional Rural Bank headquartered in Guwahati, India. Govt. of India vide Notification No. F.1. (25)/2005 dated 12th January 2006. It was established in 2006 as a Regional Rural Bank as per Regional Rural Banks Act of 1976. By amalgamation, on 12 January 2006, of the following 4 banks, Pragjyotish Gaonlia Bank (Estd. 06-07-1976), Lakhimi Gaonlia Bank (Estd. 29-07-1980), Cachar Gramin Bank (Estd. 31-03-1981) and Subansiri Gaonlia Bank (Estd. 30-03-1982) sponsored by United Bank of India, to participate more energetically, in the upliftment and development of Rural Farm Sector and Rural Non-Farm Sector, with emphasis on the deprived, the Rural Poor, Rural ISB and Rural Crafts. It was under the ownership of Ministry of Finance, Government of India.
Langpi Dehangi Rural Bank (LDRB) was an Indian rural bank (RRB). It was created on 27 January 1982 under Section 3 (1) of Regional Rural Bank Act 1976. It was created under the aegis of the State Bank of India. The main office of the Bank is situated at Diphu, the district headquarters of Karbi Anglong District.
The bank’s primary area of operation consists of the Karbi Anglong and Dima Hasao districts in the state of Assam. It was the sole independent RRB in those districts. The Bank has a total network of 59 branches: 33 branches in Karbi Anglong District, 16 branches in West Karbi Anglong and 10 branches in Dima Hasao.
The bank has three tier structure consisting of one head office at Guwahati, nine regional offices and 473 branches. They are: Nalbari, Golaghat, Lakhimpur, Guwahati, Dibrugarh, Kokrajhar, Silchar, Tezpur and Diphu. Among these offices there are 473 branches operation across all 33 districts of Assam through which the bank is serving its customers. The bank is one of the leading banks in the state of Assam.[3]
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