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Pandyan Grama Bank

Pandyan Grama Bank
Public
Industry Banking, Financial services
Founded 1976
Headquarters Virudhunagar, Tamil Nadu, India
Area served
16 districts
Key people
Shri. N.RAVICHANDRAN
(Chairman )
Products Financial Services
Increase74.63 crore (US$11 million)(March 2017)
Owner Govt of India , Govt of TN and Indian Overseas Bank
Website www.pandyangramabank.in

Pandyan Grama Bank (Tamil: பாண்டியன் கிராம வங்கி) is a Scheduled public sector bank in Tamil Nadu established under Regional Rural Bank Act 1976. It was founded on 9 March 1977 at Sattur, then later shifted to Virudhunagar on 16 July 1993. It had been issued and paid up a share capital of one crore of rupees by Government of Tamil Nadu (15%), Government of India (50%) & Indian Overseas Bank(35%).[1] Primary objective of the bank is to finance for agricultural and non-agricultural sectors in rural area. National Bank for Agriculture and Rural Development (NABARD) had awarded an A rating to Pandyan Grama Bank in recognition of its performance.

Operations

Pandyan Grama Bank has its own Administrative Office at Collectorate Complex Virudhunagar. It has five Regional Offices at Virudhunagar, Sivagangai, Thoothukudi, Tirunelveli and Thanjavur. It operates in 16 districts Virudhunagar, Sivagangai, Ramanathapuram, Pudukottai, Thoothukudi, Tirunelveli, Kanniyakumari, Madurai, Theni, Dindigul, Trichy, Thanjavur, Tiruvarur, Nagapattinam, Ariyalur and Perambalur with 327 branches in Tamil Nadu as on 14.03.2018.

Achievements

Pandyan Grama Bank(PGB) received the Best Performance award from NABARD. It was recognized as a model institution by NABARD for hosting exposure visits on SHGs and JLGs. NABARD also awarded PGB with 'A' grade for their performance. In addition to banking, PGB also hosts Insurance business in co-operation with LIC and Universal Sampo by providing their products in its branches. It is one of the fastest growing rural banks in India as identified by Reserve Bank.

References

  1. ^ "Pandyan Grama Bank branch inaugurated". The Hindu. Retrieved 27 February 2014.