Vananchal Gramin Bank
 | |
| Public | |
| Industry | Banking, Financial services |
| Headquarters | Dumka, India |
Area served | Jharkhand |
Key people |
Dr. S. C. Pati (Chairman ) |
| Products | Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management |
| Website |
www |
Vananchal Gramin Bank[1] (VGB) (Hindi: ) is a Regional Rural Bank (RRB_). The bank was established on 30 June 2006 with the amalgamation of the erstwhile Santhal Parganas Gramin Bank and erstwhile Palamau Kshetriya Gramin Bank under the provisions of RRB Act 1976. This bank is sponsored by State Bank of India & is jointly Owned by the Government of India, Government of Jharkhand and State Bank of India.
The shareholders of the Bank are Govt. of India (50%), State Bank of India (35%) and Govt. of Jharkhand (15%). The Bank is operating in 9 districts of Jharkhand State with its Head Office at Dumka (sub-capital of Jharkhand State ). The bank has four Regional Offices functioning at Deoghar, Godda, Daltonganj and Garhwa.
History
VGB has been established on 30.06.2006 with the amalgamation of erstwhile Santhal Parganas Gramin Bank and erstwhile Palamau Kshetriya Gramin Bank in terms of provisions of RRBs Act 1976. This bank is sponsored by State Bank of India & Owned by Govt. of India, Govt. of Jharkhand and State Bank of India . The shareholders of the Bank are Govt. of India (50%), State Bank of India (35%) and Govt. of Jharkhand (15 %). The Bank is operating in 9 districts of Jharkhand State with its Head Office at Dumka (sub-capital of Jharkhand State ). It has four Regional Offices functioning at Deoghar, Godda, Daltonganj and Garhwa. Districts & no. of branches covered by these Regional Offices are as under:-
Regional Office Headquarter Concerned Districts Total No. of Branches I Deoghar Deoghar, Dumka & Jamtara 70 II Godda Godda, Pakur & Sahebganj 52 III Daltonganj Palamau 44 IV Garhwa Garhwa & Latehar 37
Overview
Date of Establishment 30th June, 2006 (With the amalgamation of erstwhile Santhal Parganas Gramin Bank and Palamau Kshetriya Gramin Bank vide Govt. of India Notification No. F.NO. 1/4/2006-RRB(III) dated 30.06.06) Total Geographical areas covered (i) Santhal Parganas Division – 14,129 km2 (ii) Palamau Division- 11,651 km2 (iii) Total Area-25,780 km2
Districts covered
09 (Nine) Santhal Parganas Division (i) Dumka (ii) Deoghar (iii) Jamtara (iv) Godda (v) Pakur (vi) Sahibganj Palamau Division (vii) Palamau (viii) Latehar (ix) Garhwa No. of Blocks covered
87
Regional Offices (i) Deoghar (Region-I) (ii) Godda (Region-II) (iii) Daltonganj (Region-III) (iv) Garhwa (Region-IV) Business Performance As on 31.03.12 As on 31.03.13 Deposit – 169151 lac Advances- 67084 lac Profit- 1621 lac C:D Ratio- 39.66% N.P.A.- 9.74% Deposit – 187979 lac Advances- 87232 lac Profit- 1908 lac C:D Ratio- 46.41% N.P.A.- 7.34% Number of Branches (203)
Rural Branches (180), Semi-Urban Branches(23) & Urban Branches(NIL)
Number of Staff(Excluding Sponsor Bank) [913]
Board of Directors
The bank's affairs are conducted by a Board of Directors[2] consisting of the following persons:
- Dr Subhash Ch Pati, Chairman
- Umakant Singh, SBI
- Satish Kumar, RBI
- P K Dutta, NABARD
