Pragathi Krishna Gramin Bank

Pragathi Krishna Gramin Bank was a Regional Rural Bank established under Regional Rural Banks' Act 1976, was a Scheduled Bank jointly owned by Government of India, Canara Bank and Government of Karnataka (share capital contributed in the ratio of 50:35:15 respectively), permitted to carry all kinds of banking business. The Bank was operating in 11 districts of Karnataka, having its Head Office at Ballari.[4]

Pragathi Krishna Gramin Bank
TypeBank
IndustryBanking, Insurance, Capital Markets and allied industries
PredecessorPragathi Gramin Bank and Krishna Gramin bank
Founded23 August 2013 (2013-08-23)
Defunct31 March 2019 (2019-03-31) merged with newly formed Karnataka Gramin Bank
SuccessorKarnataka Gramin Bank
Headquarters
Ballari
Area served
Karnataka
Key people
  • Chairman: Shreenath H Joshi[1]
ProductsDeposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes
ServicesLoans, Deposits, ATM Services, National Electronic Fund Transfer (NEFT), Internet Banking, Mobile Banking, Aadhaar Enabled Payment System, Debit Card[2]
Total assets[3]
ParentCanara Bank (35%)
Websitepragathikrishnabank.com

The objective of setting up of these Special Category of Banks is to cater to the basic banking needs of rural people in particular, to contribute for the development of rural economy and prosperity of the region and employment generation. RRBs have now become an integral part of the Indian Banking System. RRBs like Public Sector Banks are established by Govt. of India and are the Scheduled Banks, notified by Reserve Bank of India.[5]

Govt. of India, with a view to improve the operational viability and efficiency of RRBs, initiated the process of structural consolidation by amalgamating RRBs. The amalgamated RRBs were expected to provide better customer service with improved infrastructure, computerization, pooling of experienced workforce, common publicity and marketing efforts etc.[6] The amalgamation intended to reap benefits of large are of operation, enhanced credit exposure limits and undertake diverse banking activities.[7]

Pragathi Krishna Gramin Bank with Head Office at Bellary came into existence on 23rd August 2013 with the amalgamation of 2 RRBs viz, erstwhile Pragathi Gramin Bank (Sponsored by Canara Bank with Head Office at Bellary) and erstwhile Krishna Grameena Bank (Sponsored by State Bank of India with Head Office at Gulbarga).[8] The Bank was formed as per gazette Notification of Government of India No. F1/5/2011- RRB (Karnataka) dated 23 August 2013.[9]

History

Year - event

  • 2013 - The Bank was established as 'Pragathi Krishna Gramin Bank', on 23 August in North Karnataka (Headquartered at Ballari).[10]
  • 2019 - The Kaveri Grameena bank amalgamated with Pragathi Krishna Gramin Bank to form Karnataka Gramin bank.[11][12]

See also

References
  1. InfoTech, S. R. V. "Board Of Directors of Pragathi Krishna Gramin Bank, Government owned Sheduled Bank, Sponsored by Canara Bank". pragathikrishnabank.com. Retrieved 10 October 2021.
  4. InfoTech, S. R. V. "Performance Highlights of Pragathi Krishna Gramin Bank, Government owned Sheduled Bank, Sponsored by Canara Bank". pragathikrishnabank.com. Retrieved 10 October 2021.
  5. InfoTech, S. R. V. "Sheduled Bank Status of Pragathi Krishna Gramin Bank, Government owned Scheduled Bank, Sponsored by Canara Bank". pragathikrishnabank.com. Retrieved 10 October 2021.
  6. Desk, India TV News (11 June 2015). "Two Canara Bank RRBs launch immediate payment service - IndiaTV news". www.indiatvnews.com. Retrieved 10 October 2021.
  7. InfoTech, S. R. V. "Technology Initiatives of Pragathi Krishna Gramin Bank, Government owned Sheduled Bank, Sponsored by Canara Bank". pragathikrishnabank.com. Retrieved 10 October 2021.
  8. Vinayak, A. J. "2 RRBs in Karnataka to be amalgamated". @businessline. Retrieved 10 October 2021.
  9. InfoTech, S. R. V. "Origin of Pragathi Krishna Gramin Bank, Government owned Scheduled Bank, Sponsored by Canara Bank". pragathikrishnabank.com. Retrieved 10 October 2021.
  10. InfoTech, S. R. V. "Balance Sheet of Pragathi Krishna Gramin Bank, Government owned Sheduled Bank, Sponsored by Canara Bank". pragathikrishnabank.com. Retrieved 10 October 2021.
  11. Vinayak, A. J. "2 RRBs in Karnataka to be amalgamated". @businessline. Retrieved 10 October 2021.
  12. "Wipro Implements Core Banking Solution for Canara Bank sponsored Regional Rural Bank (RRB)". BW SC. Retrieved 10 October 2021.
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