Odisha Gramya Bank

Odisha Gramya Bank
Public
Industry Banking, Financial services
Founded 2013
Headquarters Bhubaneswar, India
Area served
 Odisha State
Key people
 Brundaban Nayak
(Chairman )
Products Rupay Debit card, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, Vehicle loan, Home loans, private banking, wealth management
Website www.odishabank.in

Odisha Gramya Bank[1] (OGB) (Odia: ) is a Regional Rural Bank established on 7 January 2013 with the amalgamation of Neelachala Gramya Bank, Kalinga Gramya Bank and Baitarani Gramya Bank in terms of provisions of Regional Rural Banks Act 1976. The bank is sponsored by Indian Overseas Bank & is jointly owned by the Government of India, Government of Odisha and IOB.

The shareholders of the Bank are Govt. of India (50%), Indian Overseas Bank (35%) and Govt. of Odisha (15%). The Bank is operating in 13 districts of Odisha State with its Head Office at Bhubaneswar. The bank has nine regional offices located at Balasore, Baripada, Cuttack, Chandikhol, Dhenkanal, Jashipur, Khurda, Keonjhar and Pipli.

History

The bank was established on 07.01.2013 with the branches of the erstwhile Neelachal, Kalinga and Baitarani RRBs. However, presently it has grown to a network of 548 branches, of which 445 are in remote rural areas.

Presently, the Bank operates in 13 districts of Coastal, Central and Northern Orissa viz. Puri, Khurda, Cuttack, Jajpur, Jagatsingpur, Nayagarh, Bhadrak, Baleswar, Berhampur, Keonjhar, Mayurbhanj, Dhenkanal and Angul, covering 37% of the geographical area and 52% of the total population of Odisha State.

Performance

The bank made a profit of Rs 14.42 Crore in the year 2013-14.[2] The bank had a CD ratio of 59.5% at the time of amalgamation.

In 2015, Odisha Gramya Bank came third in the ranking of all banks in Odisha on Financial Inclusion parameters, with a score of 67 out of 100, becoming eligible to handle Government business including State PSU deposits.[3]

National prominence

Immediately after its inception, Odisha Gramya Bank came into national prominence with its fast-track solving of the high profile gold loan fraud case[4] involving Ratikant Kanungo. The situation improved after the formation of Odisha Gramya Bank.

Board of Directors

The bank's affairs are conducted by a Board of Directors[5] consisting of the following persons :-

See also

References

  1. ↑ "OGB Website".
  2. ↑ "OGB Performance 2014" (PDF).
  3. ↑ "Odisha Govt Selects 14 Banks to Handle SPSU Deposits".
  4. ↑ "CBI cracks OGB fraud case".Odisha Diary, 30 May 2013.
  5. ↑ "OGB Board Members".
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