Maharashtra Gramin Bank
| Company type | Regional Rural Bank |
|---|---|
| Industry | Financial Regional Rural Banks |
| Predecessor |
|
| Founded | May 1, 2025 |
| Headquarters | , |
Number of locations | 748 Branches |
Area served | Maharashtra |
Key people | Shri Gharad MB (Chairman) |
| Products | |
| Services | |
| Owner | Government of India (50%)
Government of Maharashtra (15%) Bank of Maharashtra (35%) |
| Parent | Ministry of Finance, Government of India |
| Website | www |
The Maharashtra Gramin Bank[1] (Maharashtra Rural Bank) is an Indian Regional Rural Bank (RRB) in Maharashtra with its head office is in Chhatrapati Sambhajinagar established on 1 May 2025.[2][3] The bank was formed by the amalgamation of Maharashtra Gramin Bank, Vidarbha Konkan Gramin Bank under The "One State, One RRB"[4] policy of government. It currently has 748 branches in rural areas of Maharashtra. It is under the ownership of Ministry of Finance, Government of India.
It functions under Regional Rural Banks' Act 1976 and is sponsored by Bank of Maharashtra.
History
Maharashtra Gramin Bank
The RRBs were established in India under RRB Act 1976 [23(1)]. Govt. of India vide its notification dt. 25.03.2008 amalgamated the two RRBs i.e. Aurangabad Jalna Gramin Bank & Thane Gramin Bank into a single RRB named Maharashtra Godavari Gramin Bank. Maharashtra Gramin Bank came in to existence on 20th July 2009 after amalgamation of erstwhile Maharashtra Godavari Gramin Bank and Marathawada Gramin Bank as per the notification issued by Government of India, Ministry of Finance, Department of Financial Services ref No F.No. 1/4/2006-RRB(II) dated 20 July 2009 with its head office at Aurangabad. The Bank is sponsored by Bank of Maharashtra. The share capital of the Bank is contributed by Government of India, Government of Maharashtra and Bank of Maharashtra in proportion of 50:15:35
Vidarbha Konkan Gramin Bank
Vidharbha Konkan Gramin Bank (VKGB) is a Regional Rural Bank in Maharashtra,India, formed by the amalgamation of Wainganga Krishna Gramin Bank and Vidharbha Kshetriya Gramin Bank on February 28, 2013. It is sponsored by Bank of India and jointly owned by the Government of India and the Government of Maharashtra. The bank aims to promote financial inclusion and economic development in rural and semi-urban areas by providing financial and other support for various activities, including agriculture, trade, and commerce
Board of directors
- Shri Gharad MB, Chairman
- Shri Manoj Kare, GM, FI & SLBC, Bank of Maharashtra HO Pune
- Mr. Anil Kumar Rawat, DGM NABARD
- Shri Jino Jeya Singh DGM, Financial inclusion RBI Mumbai
- Shri VM Nachane, Zonal Manager, Chh. Sambhajinagar, Bank of Maharashtra
See also
- Banking in India
- List of banks in India
- Reserve Bank of India
- Regional Rural Bank
- Indian Financial System Code
- List of largest banks
- List of companies of India
- Make in India
References
- ^ "MGB Website".
- ^ Govt of India Notification CG-DL-E-07042025-262329 dated 07 April 2025 issued by the Department of Financial Services
- ^ "Govt announces 'One State, One RRB' implementation from May 1, 2025".
- ^ https://www.livemint.com/economy/one-state-one-rrb-to-be-effective-from-may-1-after-govt-approves-consolidation-of-15-regional-rural-banks-11744118507326.html
External links