Deccan Grameena Bank Merger - 2017-2018 StudyChaCha

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Old September 13th, 2017, 02:42 PM
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Default Deccan Grameena Bank Merger

Hi I would like to have the information about the formation of Deccan Grameena Bank as well as the change of name of Deccan Grameena Bank?
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Old September 13th, 2017, 03:50 PM
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Default Re: Deccan Grameena Bank Merger

The Reserve Bank today the name of Deccan Grameena Bank has been changed to Telangana Grameena Bank.

"... The name of Deccan Grameena Bank has been changed to Telangana Grameena Bank in the Second Schedule to the Reserve Bank of India Act, 1934," RBI said in a warning.

The Union government through a warning in October 2014 had changed the name of Deccan Grameena Bank to Telangana Grameena Bank (TGB).

The Union government holds 50 for every penny stake in TGB, while 15 for each penny share is held by Telangana government and whatever remains of 35 for every penny by the State Bank of Hyderabad.

The Bank has been in presence since March 2006 by the name of Deccan Grameena Bank.

At display, the Bank has been working in five locale - Adilabad, Karimnagar, Nizamabad, Ranga Reddy and Hyderabad of Telangana state.

It gives financial services to rural masses in more than 1,878 towns and additionally in the twin urban communities of Hyderabad and Secunderabad.

The Bank was set up by amalgamating four RRBs Sponsored by State Bank of Hyderabad, viz. 1) Sri Saraswathi Grameena Bank, Adilabad 2) Sri Satavahana Grameena Bank, Karimnagar 3) Sri Rama Grameena Bank, Nizamabad and 4) Golconda Grameena Bank, Ranga Reddy (Hyderabad).

After amalgamation of the Associate Banks of State Bank, the support bank has been changed from State Bank of Hyderabad to State Bank of India. The Authorized offer capital of the Bank is Rs.2000 Crores. The paid-up capital is Rs.18.07 Crores which is contributed by Government of India, Sponsor Bank i.e. State Bank of India and Government of Telangana in the proportion of 50: 35: 15 separately.

Board of Directors

S.No
Name
Designation


1
Sri B.R.G.Upadhyay
CHAIRMAN

2
Sri M.A.Quddus
Central Govt. Nominee

3
Sri Mamidi Vikram Reddy
Central Govt. Nominee

4
Sri C. Nageswara Rao
DGM, FIDD, Reserve Bank of India, Hyderabad.

5
Sri K.I. Shariff
Deputy General Manager, NABARD.

6
Sri Kasi Srinivas
Deputy General Manager (Outreach), State Bank of India, Telangana Circle, Hyderabad.

7
Sri Yennemadi Rajesh Ramdas
Regional Manager, State Bank of India, Regional Business Office, Hyderabad.

8
Sri Sandeep Kumar Sultania, IAS
Secretary(IF), Finance Department, Telangana Secretariat, Hyderabad

9
Dr. M Jagan Mohan, IAS
Commissioner & Director of Agriculture, Govt. of Telangana.

Contact:


Head Office Address:

Telangana Grameena Bank
2-1-520, 2nd Floor,
Vijaya Sri Sai Celestia,
Street No.9,Nallakunta,
Shankermutt Road,
Hyderabad - 500044.
E-Mail: tgbho@tgbhyd.in
Phone No: 040-27602091, 27600821
Fax: 040-27662623, 27661742
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