Finance Minister Etala Rajender and Irrigation Minister T Harish Rao unveiled the new logo of Telangana Grameena Bank here on Friday.
The logo was unveiled on the sidelines of State Credit Seminar organised by NABARD here.
It may be mentioned that the Central Government had issued a notification on October 20 changing the name of Deccan Grameena Bank as “Telangana Grameena Bank” and the area of the operation of the bank was extended to 10 districts of Telangana State.
Decan Grameen Bank, sponsored by State Bank of Hyderabad, was established on March 24, 2006, by amalgation of four erstwhile Grameena Banks i.e., Sri SAraswathi Grameena Bank, Adilabad, Sri Sathavahana Bank, Karimnagar, Sri Rama Grameena Bank, Nizamabad and Golconda Grameena Bank, Ranga Reddy district and is operating in five districts thereafter.
Telangana Grameena Bank is a Government Bank having 50 per cent share of Government of India, 15% share of Government of Telangana and 35% share of SBH. As per the Central Government’s notification, the branches of Andhra Pradesh Grameena Vikas Bank operating in Warangal, Medak, Mahaboobnagar, Nalgonda and Khammam districts will be transferred to Telangana Grameena Bank and area of operation will be extended to cover entire Telangana State in coming days with branch network of 800 branches.
Presently, the bank has been operating in five districts, i.e., Adilabad, Karimnagar, Nizamabad, Ranga Reddy and Hyderabad and providing financial services to the rural masses in 1878 villages and also in the twin cities of Hyderabad and Secunderabad through its 300 branches and five regional offices, as on March 31, 2014. As on November 30, bank has deposits of Rs 4,158.92 crore, Advances of Rs 3,553.88 crore and total business of Rs 7712.80. It has been running on profitable lines since its inception and its net worth, as on March 31, 2014, stood at Rs 369.23 crore. (INN)