SARVA HARYANA GRAMIN BANK

       SARVA HARYANA GRAMIN BANK

Regional Rural Banks were established under the provisions of the Ordinance promulgated on 26th September, 1975 and RRBs Act 1976 with a view to develop the Rural economy as well as to create an alternative channel to “Cooperative Credit Structure” and to ensure sufficient Institutional Credit for Rural and Agriculture Sector. RRBs are jointly owned by Government of India, the concerned state Government and Scheduled Commercial Banks. The issued capital of an RRB is shared by them in the proportion of 50%, 15% and 35% respectively. The area of operation of the majority of RRBs is limited to a notified area comprising selected districts in the respective states.

 

came into existence on 29th November 2013 on Implication of GOI Notification no 7/9/2011-RRB dated 29.11.2013 regarding amalgamation of two RRBs viz Haryana Gramin Bank & Gurgaon Gramin Bank under the Regional Rural Banks Act, 1976 (No. 21 of 1976) and the new entity called as Serva Haryana Gramin Bank with its Head Office at Rohtak (Haryana) sponsored by Punjab National Bank, the Leading Bank in Indian Banking industry. 

Haryana Gramin Bank was formed in the year of 2005 by the Government of India as a result of amalgamation of Haryana Kshetriya Gramin Bank, Hisar Sirsa Kshetriya Gramin Bank and Ambala Kurukshetra Gramin Bank. This bank is sponsored by the Punjab National Bank and its head quarter is located at Rohtak

Haryana Kshetriya Gramin Bank : 

Established on 02nd October 1975, Birth anniversary of Father of Nation Mahatma Gandhi. Among the first five RRBs in India

The Government of India set up Regional Rural Banks (RRBs) on October 2, 1975.

Initially, five RRBs were set up on October 2, 1975 under the recomondations of narasimhan committee which were sponsored by Syndicate Bank, State Bank of India, Punjab National Bank, United Commercial Bank and United Bank of India. Capital share being 50% by the central government, 15% by the state government and 35% by the sponcered bank

PRODUCTS:

S.N.Deposit Scheme 1 Saving Bank Account 2 Fixed Deposit Anupam 3 Fixed Deposit Account 4 Reccuring Deposit 5 SHGB Tax Saver Scheme S.N. Advance Schemes 1 Kishan Credit Card 2 Personal Loans 3 Kishan Investment Credit Card 4 Education Loans 5 HGB Mahila Vikas Card 6 Piggery Development 7 Dairy Vikash Card 8 Loan for Ex-Service Man 9 Sawrojgar Credit Card 10 General Credit Card 11 Joint Liability Group 12 Self Help Group 13 Horticulture Credit 14 Dairy/Poultry 15 Housing Loan 16 Farm Mechanization

 GURGAON GRAMIN BANK

Gurgaon Gramin Bank, established in March 1976 under RRBs Act, has completed 36 years in the service of rural masses. Beginning with a modest business level of Rs. 50 Lacs and a network of 20 branches as at the close of 1st financial year of its existence on 31.12.76, theaggregate business of the Bank has reached to Rs. 6419.33 Crore at the end of fiscal 2011-12 with a network of 210 branches in 7 Districts of Haryana. Though the Bank had suffered losses during initial year of existence, it has been constantly earning profits since 1998 and has buildup a sizable reserves base of Rs. 575.06 Crore as on 31.03.2012. Likewise the total deposits of the Bank which were Rs. 25 Lacs as on 31.12.76 have grown to Rs. 4137.47 Crore as on 31.03.2012. The advances level of the Bank has also witnessed many fold increase during the last 36 years. The outstanding advances which were just Rs. 27 Lacs as on 31.12.76 havegrown to Rs. 2281.86 Crore as on 31.03.2012. The Bank has never overlooked its original mandate of fulfilling the credit and bankingneeds of rural masses and contributing in the developmental activities in the Seven Districts of Southern Haryana i.e. Gurgaon, Mewat, Faridabad, Palwal, Rewari,Mohindergarh and Sonepat through its branch network of 210.The Bank, true to its concept of origin, has been successful in inculcating the Banking habits in the rural masses in its area of operation by making the customers aware of the need of small savings and also use of credit for productive purpose raising their living standard.Govt. of India has introduced the concept of Financial Inclusion in year of 2008 and issued the guidelines for the banks to open No Frill accounts of the marginalized/excluded group of population in the country to take them in the fold of banking services. The Bank has taken the initiative to open the No Frill accounts in the remotest rural areas by launching a door to door

campaign and as on date we have opened more than Five Lac No Frill accounts in our area of operation in seven districts of Haryana.Our Bank has been allocated 234 villages under FIP in 7 districts of Haryana state. Our Bank has prepared a road map and implemented accordingly. Bank has selected FINO & HCL as Technical Service Providers (TSPs) to complete the task assigned under FIP. Bank has opened 31 Brick & Mortar Branches and appointed 203 Business Correspondent Agents (BCAs) in 203 FI villages to provide the financial services by following the Govt. of India guidelines. Later on Bank has opened 56 Ultra Small Branches (USBs) wherein the BCAs are handling all the cash transactions and Bank’s Field Officers provided with Laptop are visiting the USBs on a predetermined day on weekly basis to provide the account details and various bank schemes designed for the rural people as per their needs. GGB is the first RRBs who has opened Financial Literacy and Credit Counseling Center (FLCC) at three block level centers in Mewat, Gurgaon & Faridabad District under the guidance ofJnana Jyothi Financial Literacy & Credit Counseling Trust, Manipal.Bank is on 100% CBS platform and ready to start interoperability for all FIP Villages in Mewat District on priority basis.Bank is having various credit products for taking care of credit needs of each section of society.Door to door canvassing/ marketing of various loan products is being ensured for achieving credit disbursement and advance outstanding targets with comfortable margin, without compromising quality of credit.Farm sector being our traditional strong hold for credit dissemination,

RECENT NEWS:

  The move to bring Gurgaon Gramin Bank (GGB), one among the most profitable regional rural banks in the country, under the Rohtak headquartered Haryana Gramin Bank has received a setback with Comptroller and Auditor General of India (CAG) seeking a response from the National bank for Agriculture and Rural Development(NABARD) on why a financially strong and better performing bank is being brought under a weaker one. The proposal is being pushed by CM Bhupinder Singh Hooda.

Meanwhile, the Central Vigilance Commission has lodged a complaint by Gurgaon
Gramin
Bank Workers Organization, which had alleged mala fide intention behind the amalgamation bypassing the normal practice of considering only audited results while deciding a merger. A case against the amalgamation is scheduled for hearing in the Delhi high court on Monday.

In its letter to NABARD, the CAG has said the audited results of Gurgaon Gramin Bank as on March 31, 2013, were far better than Haryana Gramin Bank. But the business of Haryana Gramin Bank was more as per the unaudited figures of September 30, 2013. CAG has asked for "the reasons for taking into consideration the unaudited figures."

TOI had reported that HGB's, with 276 branches and 60 ultra-small branches, net worth was Rs 393 crore at the end of year 2012-13 and net profit Rs 64.86 crore. GGB, having 231 branches and 198 ultra-small branches, had net worth of Rs 690 crore and net profit Rs 126.15 crore. But the branches of HGB, sponsored by Punjab National Bank, increased from 336 to 598 between April 2013 and September 2013, while GGB, sponsored by Syndicate Bank, added another 10 branches. HGB's business swelled to Rs 10,105 crore from Rs 6,579 crore between April and October while GGB's increased by only Rs 388 crore.

On the basis of this assessment, Union finance ministry favoured bringing HGB under GGB under its scheme of merger of regional rural banks. But after Hooda wrote to the finance ministry seeking GGB's amalgamation with HGB in September, the ministry changed its stand. The CAG has sought a response from NABARD on why the recommendation of the Haryana government, which has only 15% control in regional rural banks, was accepted.

The auditor has also asked for details of the cut-off date for the merger and whether accounts of both GGB and HGB would be prepared as an amalgamated entity for financial year 2013