Govt. of India through a notification dated 12th January 2006 amalgamated the four Regional Rural Banks sponsored by the United Bank of India in the state of Assam to form Assam Gramin Vikash Bank (AGVB).
The erstwhile RRBs amalgamated were Pragjyotish Gaonlia Bank (Established on 06-07-1976), Lakhimi Gaonlia Bank (Established on 29-07-1980), Cachar Gramin Bank (Established on 31-03-1981) and Subansiri Gaonlia Bank (Established on 30-03-1982).
Thus Assam Gramin Vikash Bank (AGVB) came into existence from 12th January 2006 covering the areas of operation of the pre-amalgamated RRBs. The bank has its Head Office at Guwahati.
Purpose: This is a hassle free credit facility provided by the bank to economically weaker sections of the society.
Eligibility: Farmers, Artisans, Retail Traders, Small Business Entrepreneurs, Small Road Transport Operators, etc. are eligible for this kind of personal loan.
Loan amount: Maximum amount that is extended as credit through this loan scheme is Rs.25,000/-.