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Pragathi Grameena Bank records profit of Rs. 42 cr.

Staff Correspondent

It was formed by amalgamating four regional rural banks


  • Recovery rate was 86.79 per cent during 2005-06
  • The bank formed 5,086 self-help groups
  • Plan to computerise all branches

    BELLARY: Pragathi Grameena Bank has recorded a profit of Rs. 42.17 crore in the first year of its setting up and the bank's total business touched Rs. 3,257.43 crore as against the target of Rs. 3,225 crore for the year 2005-06.

    Pragathi Grameena Bank was formed by amalgamating four regional rural

    banks (RRBs) sponsored by the Canara Bank — Tungabhadra Grameena Bank, Sahyadri Grameena Bank, Chitradurga and Kolar Grameena Banks in

    September last year and its head office was set up in Bellary.

    The bank has a jurisdiction over Bellary, Raichur, Koppal, Chitradurga, Davanagere, Kolar and Shimoga districts.

    Annual action plan

    Releasing details of the bank's performance for the year 2005-06 at a press conference held here on Monday, bank chairman Vincent D'Silva said that the bank had achieved the Annual Action Plan targets under lending by reaching 107 per cent of the total target allocated for all the seven districts. The recovery rate was 86.79 per cent as against 78.63 per cent in the previous year and the gross Non-performing Assets (NPA) level stood at 4 per cent while the net NPA stood at just 0.99 per cent.

    The bank had registered a growth of 18.79 per cent with regard to disbursement of loans under priority sector; it disbursed Rs.1,279.08 crore the last financial year.

    The bank has extended Rs. 1,047.62 crore for agriculture and Rs. 1,614.49 crore for non-agriculture sector.

    A sum of Rs. 76.50 crore was disbursed for tractors and combined harvesting; Rs. 7.94 crore towards minor irrigation wherein 3,000 acres of dry land could be irrigated; Rs. 8.24 crore for horticulture; Rs. 7.62 crore for dairy, poultry and fisheries; Rs. 14.79 crore for house constructions; Rs. 19.15 crore for swarojgar credit cards, Rs. 2.94 crore towards construction of rural godowns and Rs. 100 crore by way of pledge loans against agricultural produce mainly paddy, he said.

    Disbursal of loans

    The loans disbursed and total outstanding to Scheduled Castes/Tribes stood at Rs. 43.72 crore and Rs. 138.20 crore respectively. Similarly for minorities, Rs. 82.5 crore was disbursed. The bank has provided all encouragement to micro credit concept by promoting SHGs.

    During the year, the bank formed 5,086 new SHGs and extended credit linkage to 7,769 SHGs during the year. A sum of Rs. 30.66 crores has been extended as credit assistance to SHGs taking the total outstanding to Rs. 42.33 crores.

    Mr. D'Silva said that the bank proposed to establish five automated teller machines (ATMs) in Bellary, Hospet, Raichur, Davanagere and Kolar during the current financial year besides computerising all the branches.

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