The Central government, through notification F.No7/8/2017-RRB (Madhya Pradesh) issued on January 11, 2019, has cleared merger of Narmada Jhabua Gramin Bank and Central Madhya Pradesh Gramin Bank. The decision was taken under sub-section (1) of section 23(A) of Regional Rural Banks Act, 1976 (21 of 1976), in consultation with the National Bank for Agriculture and Rural Development (NABARD), Government of Madhya Pradesh, Bank of India and Central Bank of India.
The notification said that post merger the new entity would be called Madhya Pradesh Gramin Bank and would become operational from April 1, 2019 with its head office in Indore. Bank of India would sponsor the bank, it said. Post merger the Madhya Pradesh Gramin Bank will have 866 branches in 39 districts of Madhya Pradesh i.e. Agar Malwa, Alirajpur, Anuppur, Balaghat, Barwani, Betul, Bhind, Bhopal, Burhanpur, Chhindwara, Datia, Dewas, Dhar, Dindori, Gwalior, Harda, Hoshangabad, Jabalpur, Jhabua, Katni, Khandwa, Khargone, Indore, Mandla, Mandsaur, Morena, Narsingpur, Neemuch, Raisen, Rajgarh, Ratlam, Sehore, Seoni, Shahdol, Shajapur, Sheopur, Ujjain, Umaria and Vidisha.
Madhya Pradesh Gramin Bank (MPGB) will soon be the biggest Regional Rural Bank (RRB) in Madhya Pradesh. Both the RRBs viz. NJGB and CMPGB were in the forefront of the uplift of rural poor and consequently, rural development will stand to gain a lot.
Madhya Pradesh Gramin Bank by virtue of its size, reach and essential banking services to the primary economy is going to be a Rurally- Systemically Important Bank (R-SIB) in days to come. We are committed to providing superior, proactive, innovative, state of the art banking service to make our Madhya Pradesh Gramin Bank, “Apka Apna Bank”.
The highlights of the new entity are as follows:
