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 loan is offered for encouraging Self-Help Groups to take up activities for generation of income through Bank linkage (both deposit and credit)
Quantum of Loan: Groups can avail bank loan up to 4 times of their corpus or even more.
Eligibility : Self-Help Groups functioning satisfactorily for at least 6 months are eligible for credit linkage with the bank. This loan is not a personal loan but a group loan to the SHG.