MBGB (Madhya Bihar Gramin Bank) Sponsored by Punjab National Bank was established under Regional Rural Bank Act, 1976 and by Govt. of India, Ministry of Finance, Economic affairs and Banking Division notification no. F. No. 1(1) 2006-RRB dated 10.02.2006 by amalgamating four RRBs viz. Bhojpur Rohtas Gramin Bank, Magadh Gramin Bank, Nalanda Gramin Bank and Patliputra Gramin Bank. The bank is categorized under scheduled banks and is authorized for all types of banking business under section 5(B) of Banking Regulation Act 1949. As per RBI notification vide their letter no RPCD. CO. RRB. NO. BC. 77/03 .05 100 /2008-09 dt.17.12.2008 the name of MBGB has been included in the Second Schedule to the Reserve Bank of India Act, 1934 by notification RPCD. CO. RRB. NO. 3231/ 03.05 100/ 2008-09 dated 22.09.2008 published in the Gazette of India (Part III – Sec .4) dated 15.11.2008. Simultaneously the names of erstwhile RRBs have been excluded from the Second Schedule to the RBI Act, 1934.
The bank is rendering its services to meet all the banking requirements of the rural and urban areas. In the light of the changed scenario in the banking sector, the bank is also providing its services to non target group beneficiaries along with the target group beneficiaries.
To treat and serve our customers with respect and pleasure and support them in activities that improves the quality of their life.
To create financial security for our customers and to create value for our shareholders in ways that continues to emphasize quality, high value and uncompromising integrity.
To promote confidence and commitment among the staff members so that the bank addresses expectations of the customers efficiently and technology banking is also handled with ease.
To provide all employees of the bank, with an environment that inculcate belongingness to the bank and recognizes professional development, creativity and ambition.
To Focus on high earnings and business growth with a very low volatility by maximizing competitive risk adjusted return on capital, planned reduction in the average cost of funds, increased yield on advances and investments besides reduction in cost of operations.
To facilitate a process of restructuring of branches to support a greater efficiency in the field of rural and retail banking field.
To adopt and operationalize high – level technology standards for developing innovative products and low cost services that attract our targeted customers and address inefficiencies in the Indian financial sector.
To adopt professional approach in managing financial as well as nonfinancial risks, through an effective Risk Management and Internal Control System in the bank. To Maintain a high standards in for asset quality through disciplined credit risk management
Our vision statement reminds us of what we want to be. It guides our decisions as we strive to provide the finest customer service, create superior products and give the best results for satisfaction of our stake holders. It reminds us that we must not simply be competitive, but we must also be better than other financial institutions in our area of operation.