About Utkal Grameen Bank
Utkal Grameen Bank (UGB) (Odia: ) is a Regional Rural Bank established on 1 November 2012 with the merger of Rushikulya Gramya Bank and Utkal Gramya Bank in terms of provisions of Regional Rural Banks Act 1976. The bank is sponsored by State Bank of India & is jointly Owned by the Government of India, Government of Odisha and SBI.
The shareholders of the Bank are Govt. of India (50%), State Bank of India (35%) and Govt. of Odisha (15%). The Bank is operating in 17 districts of Odisha State with its Head Office at Bolangir. Besides, the bank has seven Regional Offices in western and southern Odisha.
The bank was established on 1 November 2012 as an amalgamation of the Rushikulya and Utkal RRBs. At the time of amalgation, Rushikulya bank had only 87 branches. It subsequently grew to a network of 426 branches, of which 360 are in remote rural areas. Apart from the Head Office at Bolangir, the bank has opened regional offices at Sambalpur, Rayagada, Bargarh, Bhawanipatna, Jeypore and Berhampur.
Presently, the Bank operates in 17 districts of Western and Southern Orissa, covering 63% of the geographical area and 48% of the total population of Odisha State.