How many branches are there in Gramin Bank in Madhya Pradesh?

Central Madhya Pradesh Gramin Bank and Narmada Jhabua Grameen Bank were combined to form Madhya Pradesh Grameen Bank, a regional rural bank that was founded on April 1, 2019. In the public interest and for the advancement of the regions these banks serve, this merger was completed in accordance with a Government of India Gazette Notification.

What is the number of branches that Gramin Bank has in Madhya Pradesh?

While Central Bank of India initially sponsored Central Madhya Pradesh Gramin Bank, Bank of India originally sponsored Narmada Jhabua Grameen Bank. Following the merger, the combined Madhya Pradesh Grameen Bank is headquartered in Indore, Madhya Pradesh, and it functions in accordance with the Regional Rural Banks Act, 1976. Bank of India is the sponsor.

The bank operates in 39 districts of Madhya Pradesh, giving it a broad presence throughout the whole state. With 866 branches, it has a strong network that provides rural residents with wide coverage and accessibility. The bank also has 14 regional offices to efficiently oversee its activities.The Core financial Solution (CBS) technology, which unifies many financial services to deliver smooth client experiences, powers all Madhya Pradesh Grameen Bank branches.

All of the bank's branches provide RTGS/NEFT capabilities, which provide rapid and easy electronic fund transactions. To further improve user convenience, it has a feature for viewing content on the internet.

By increasing institutional credit for the rural and agricultural sectors, Regional Rural Banks (RRBs) like Madhya Pradesh Grameen Bank seek to strengthen the rural economy and complement the Cooperative Credit Structure.

The Government of India, the relevant state government, and the sponsoring bank contribute 50%, 15%, and 35% of the share capital of RRBs, respectively. Thus, through its vast branch network, Madhya Pradesh Grameen Bank contributes significantly to rural development and offers financial services throughout the state.