Report by Saroj Mishra, Puri: Odisha Gramin Bank (OGB) got its facelift with a notification of Ministry of Finance (MOF), Government of India (GOM) on Monday. Three Regional Rural Banks (RRB) such as Nilachal Gramya Bank (NGB), Kalinga Gramya Bank (KGB) and Baitarani Gramya Bank (BGB) operating in coastal and northern districts of Odisha have merged into OGB with effect from today.
The step was taken by the GOM to strengthen the economic viability of those regional rural banks (RRB) operating in 13 districts of state. Indian Overs-ease Bank (IOB) which was working as guiding force to Nilachal Gramya Bank (NGB) would also act as guiding forces and sponsoror for newly emerged OGB after the amalgamation of three RRBs.
The merger of those banks into single fold will not only help enhance the economic viability but also reach benefits to customers in borrowing loans and getting other benefits, sources to Nilachal Gramya Bank, Puri informed. Now OGB will have staff capacity of 2500 which includes around 900 employees of NGB, 1100 employees of BGB and 500 staffs of KGB who have now come under one roof. Previously NGB had 174 branches in undivided Puri and Dhenkanal districts with annual business of Rs 4500 crore. Similaly, KGB and BGB had annual business of Rs 3500 crores and Rs 2700 crores respectively which were working in Cuttack-Balasore and Keonjhar-Sundergarh districts. The head office of NGB situated at Pokhariput in Bhubneswar will also work as HO for newly emerged OGB.
Soures said NGB was one among the profit-making RRBs in Odisha while other two RRBs such as KGB and BGB were running a loss. “The aim of amalgamation of the three RRBs in Odisha is to mitigate the losses incurred in other two RRBs” said Prakash Chandra Mishra, the regional manager (RM) of Nilachal Gramya Bank (NGB), Puri. He added that losses of KGB and BGB can be adjusted if profit-making NGB comes to a merger with them as the GOB thinks to boom the financial capability after new emergence. With banks coming to single window its capital and base would be strengthened leading to direct benefits of customers said Mishra to OD.
On being asked about the other facilities S.C Mishra, Branch Manager of NGB, West Gate Puri, said “Certainly we the employees are overwhelmed after the merger. We hope the newly formed OGB will develop its infrastructure in opening ATM counters like the nationalized banks in order to meet the customers’ demand. Similarly customers along with staffs will be benefited in future various ways informed Mishra to OD. Notably, excepting Nilachal Gramya Bank KGB and BGB were running a loss for which GOM has taken such initiative.