The idea of Regional Rural Banks (RRBs) was mooted by the Govt. of India in the year 1975 to bring about the desired uplift of the rural economy and accordingly promulgated an Ordinance which was subsequently replaced by the Parliament as Regional Rural Banks Act,1976.
In Assam all together five RRBs were opened at different point of time beginning with Pragjyotish Gaonlia Bank. The pro-active attitude and the rural bias of these banks culminated not only in the creation of thrift habit among the rural masses but also in the dispensation of credit to such people mostly for priority sector activities.
Govt. of India vide Notification No. F.1.(25)/2005 dated 12th January 2006 amalgamated the four Regional Rural Banks sponsored by the United Bank Of India in the state of Assam to form Assam Gramin Vikash Bank (AGVB). The erstwhile RRBs amalgamated were
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).
Thus Assam Gramin Vikash Bank (AGVB) has come into existence from 12th January 2006 covering the areas of operation of the of the pre-amalgamated RRBs with its Head Office at Guwahati. The Bank covers 25 out of 27 districts of the State through its strong network of 414 branches. While AGVB’s genesis has its roots in the interest of the customers, stakeholders and the staff, the broader objectives of the amalgamation are:
||Better customer service from better infrastructure, branch computerization, pool of experienced work force, unified publicity and marketing efforts.
||Reaping economies of scale with larger area of operation, enhanced credit exposer limits.
||Opportunities for diverse banking activities, leading to higher business growth.
Looking back at the post amalgamation period, it is noteworthy that the metamorphosis of the RRBs with different cultures and practices, into a single large entity with shared culture has been extremely smooth. The advent of AGVB had a positive impact, particularly in the areas of Business growth and operational matters.
With the advantage of largest network of branches in the Rural Assam, it is our duty and obligation to serve the rural masses, the deprived and denied with all banking facilities for augmentation of agricultural production, uplift of the downtrodden, employment of rural youth, with commitment to the sacred task of all out development of the Rural Assam. The bank’s initiatives have strengthened our culture and we aim to be the top class Rural Bank of the Country, benchmarking ourselves against the best standards and practices in terms of product offering, service level and professional integrity. What remains to be achieved is much larger than what we have achieved so far.
To financially include as well as spread Banking Literacy to each household of its area of operation and initiate appropriate intervention for economic uplift of the people of Assam through Agriculture, Micro, Small and Medium Enterprises to accomplish the mandate set out for the RRBs and thus emerging as a strong, vibrant and socially committed ‘Mass-Class Bank’.