Baitarani Gramya Bank to become Odisha Gramya Bank
Baripada: Baitarani Gramya Bank (BGB) is set to merge with the upcoming ‘Odisha Gramya Bank’ as per the notification of finance ministry. The 32-year regional rural bank, which had been dominating two tribal districts of Odisha – Keonjhar and Mayurbhanj – with 111 branches, is likely to lose its status and identity.
Baitarani Gramya Bank will get its new identity along with two other regional rural banks Kalinga Gramya Bank, and Nilachal Gramya Bank. As per the ministry directives, no regional rural banks in the districts of Cuttack, Puri, Balasore, Dhenkanal, Mayurbhanj and Keonjhar would function independently without being merged with Odisha Gramya Bank.
Baitarani Bank started in June 1980 and has been providing services to tribal people with a Cash Reserve Ratio (CRR) of Rs 1331 crore in Mayurbhanj and Keonjhar.