The idea of Regional Rural Banks (RRBs) was establised 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 PragjyotishGaonlia 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).

Thereafter vide Government of India notification no 854 dated 22nd February 2019 Langpi Dehangi Rural Bank (Sponsored by State Bank of India) and Assam Gramin Vikash Bank have been amalgamated with sponsorship of United Bank of India. Thus Assam Gramin Vikash Bank (AGVB) has come into existence from 1st April 2019 covering entire geographical area of the state through its strong network of 473 branches. Further after amalgamation of United Bank of India with Punjab National Bank, the sponsorship of the bank has gone to Punjab National Bank w.e.f 1st April 2020.

While AGVB’s genesis has its roots in the interest of the customers, stakeholders and the staff, the broader objectives of the amalgamation are:

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.