MG Bank profile

Maharashtra Gramin Bank is a Regional Rural Bank in Maharashtra with massive rural penetration. Even though the bank is a Regional Rural Bank, MGB delivers all the major functionalities of a PSB. The major focus of the bank is to initiate appropriate intervention for overall economic upliftment and advancement of the people of Maharashtra by giving financial assistance to the sectors like Agriculture, Micro, Small and Medium Enterprises, education, housing, micro-credit, weaker sections, SC/ST communities etc.

History

The RRBs were established in India under RRB Act 1976 [23(1)]. During the period from 1976 to 2006 banking industry had undergone various changes and RRBs were no exception. Considering the need for structural changes in RRBs in view of dynamically changing economic scenario, Govt. of India vide its notification dt. 25.03.2008 amalgamated the two RRBs i.e. Aurangabad Jalna Gramin Bank & Thane Gramin Bank into a single RRB named Maharashtra Godavari Gramin Bank. Maharashtra Gramin Bank came in to existence on 20th July 2009 after amalgamation of erstwhile Maharashtra Godavari Gramin Bank and Marathawada Gramin Bank as per the notification issued by Government of India, Ministry of Finance, Department of Financial Services ref No F.No. 1/4/2006-RRB(II) dated 20July 2009 with its head office at Aurangabad. The Bank is sponsored by Bank of Maharashtra. The share capital of the Bank is contributed by Government of India, Government of Maharashtra and Bank of Maharashtra in proportion of 50:15:35 OUR

Our Mission

“Developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and other facilities, particularly to the small and marginal farmers, agricultural labourers, artisans and small entrepreneurs and for matters connected therewith and incidental thereto”.

Our Vision

Positioning the Bank in a competitive market by adopting IT solutions, providing basic services to mass population at their doorstep, adopt effective IT models to deliver those services, increase flow of credit to agriculture, to achieve a quantum jump in savings bank deposit mobilization and pursue the best practices for delivering the value added service to our customers by transforming the branches into the most preferred banking outlet in rural areas.