Krishna Grameena Bank
| Company type | Regional Rural Bank |
|---|---|
| Industry | Banking, Financial services |
| Founded | December 1, 1978 in Kalaburagi, India |
| Defunct | August 23, 2013 |
| Fate | Merged with Pragathi Gramin Bank to form Pragathi Krishna Gramin Bank |
| Headquarters | Kalaburagi , India |
Area served | Kalaburagi, Bidar, Yadgir districts in Karnataka, India |
| Owner | Government of India (50%), State Bank of India (35%), Government of Karnataka (15%) |
Krishna Grameena Bank was an Indian Regional Rural Bank (RRB) formed under the Regional Rural Banks Act of 1976. In August 2013, it was consolidated into Pragathi Krishna Gramin Bank, which subsequently became part of Karnataka Gramin Bank.
As a Scheduled Rural Bank, ownership was divided among State Bank of India (35%), the Government of India (50%), and the Government of Karnataka (15%). The bank operated under the guidelines set by the Reserve Bank of India and provided a variety of banking services. Its operations covered the districts of Kalaburagi, Bidar, and Yadgir in Karnataka, with its main office located in Kalaburagi.
History
The establishment of RRBs aimed to fulfill rural banking requirements, stimulate economic growth in rural areas, and create employment opportunities within these regions. Like Public Sector Banks, RRBs are instituted by the Government of India and classified as Scheduled Banks under the supervision of the Reserve Bank.
Krishna Grameena Bank commenced operations on 1 December 1978, headquartered in Kalaburagi.
By 2005, it managed 119 branches, with 94 situated in rural locations. The bank earned Third Prize from the National Bank for Agriculture and Rural Development (NABARD) for adhering to NABARD’s guidelines under the Self Help Group (SHG) Bank Linkage Program in Karnataka during 2005/2006. Additionally, it was one of two RRBs chosen by NABARD to pilot Smart Cards—Micro-Processor Cards that empowered Self Help Group members to independently verify balances and withdraw funds, thereby improving service efficiency.
On 23 August 2013, Krishna Grameena Bank merged with Pragathi Gramin Bank, resulting in the creation of Pragathi Krishna Gramin Bank.