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Odisha Gramya Bank

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Odisha Gramya Bank
Company typePublic
IndustryBanking, Financial services
Founded2013
HeadquartersBhubaneswar, India
Area served
Odisha State
Key people
Brundaban Nayak
(Chairman)
ProductsRupay Debit card, consumer banking, corporate banking, finance and insurance, Home loans, investment banking, mortgage loans, private banking, Vehicle loan, wealth management
INR 90.15 Million
Number of employees
2203
Websitewww.odishabank.in

Odisha Gramya Bank[1] (OGB) (Template:Lang-or) 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 547 branches, of which 446 are in remote rural areas.

Presently, the Bank operates in 13 districts of Coastal, Central and Northern Odisha viz. Puri, Khurda, Cuttack, Jajpur, Jagatsingpur, Nayagarh, Bhadrak, Baleswar, Kendrapada, 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.

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.
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