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Utkal Grameen Bank – www.ugb.co.in – Utkal Grameen Bank (UGB): A Regional Rural Bank

Tuesday, 2 September 2014

Rushikulya Gramya Bank sponsored by Andhra Bank and Utkal Gramya Bank sponsored by State Bank of India amalgamated into Utkal Grameen Bank on 1st November, 2012.

Utkal Gramya Bank (UGB) came in light in 2006. It is a Regional Rural Bank sponsored by State Bank of India. The Bank has established its banking and financial business in the State of Orissa.

Utkal Gramya Bank was established under Sub-section (1) of Section 23 (A) of Regional Rural Banks Act 1976 (21 of 1976) by the amalgamation of 3 erstwhile RRBs - Bolangir Anchalik Gramya Bank (BAGB), Kalahandi Anchalik Gramya Bank (KAGB) and Koraput Panchabati Gramya Bank (KPGB). These banks were also sponsored by the State Bank of India. These banks merged into single one - Utkal Gramya Bank (UGB) on 31st July, 2006.

Head office of Utkal Grameen Bank is located at Club Para, Bolangir in Orissa. www.ugb.co.in is the official website of UGB which updates new information regarding recruitment, loans, interest rates, savaging accounts, results, new schemes and other services.

Banking business of Utkal Grameen Bank covers Saving Bank Account, FD, Current Account and SB Account services. It provides a wide array of other financial services also such as Agricultural Term Loan, Farm Mechanization, General Credit Card, UGB Trade Finance, Gold Loans, Dairy Farming, Polutry Farming, Rural Godown, UGB Tractor Loan, UGB Kisan Kalyan Jojna, Swarojgar Credit Card, Artisan Credit Card, Education Loan etc.

www.ugb.co.in has expanded its banking and financial business in 15 districts of Orissa State - Bolangir, Sonepur, Bargarh, Sambalpur, Deogarh, Jharsuguda, Sundargarh, Kalahandi, Nuapada, Kandhamal, Boudh, Koraput, Malkangiri, Rayagada and Nabarangpur.

UGB has more than 333 branches. Utkal Grameen Bank has covered 55% geographical area and 50% districts of Orissa State. Ownership share of Utkal Grameen Bank is divided into Government of India (50%), State Bank of India (35%) and Government of Orissa (15%).

www.ugb.co.in achieved total profit of Rs. 959.90 lakh as on 31st March, 2011. Utkal Gramya Bank had total deposits of Rs. 267898.46 lakh and advances of Rs. 154728.64 lakh as on 31st March, 2011.

Utkal Grameen Bank follows the concept of “Starts with ‘You’, Ends with ‘Banking’!” It is aimed to serve its banking and financial business to rural people in the State of Orissa.

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