Government 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 an educational loan to students for higher education.
Eligibility: Student should be an Indian National. The student must have secured admission through Entrance Test/Selection process. Some courses which are eligible for funding under this loan scheme are shortlisted by the bank.
Loan amount: The maximum amount that is granted as loan for studies in India is Rs.7.50 lakhs. In case of studies abroad the maximum amount granted is Rs.15 lakhs.