Assam Gramin Vikash Bank to give Rs 500 cr loans by March

Public sector undertaking Assam Gramin Vikash Bank today said it will disburse around Rs 500 crore of loans within the next 2-3 months.

"We are expanding our business very aggressively. We have already given credit of around Rs 560 crore in the current fiscal. By the end of this financial year, we will disburse another Rs 500 crore as loans," Assam Gramin Vikash Bank chairman Shio Shankar Singh told PTI.

With 1.61 lakh credit linked self-help groups and 4.72 lakh Kishan credit card loans, the bank is the largest in the state in both fields, he claimed.

"We have been constantly expanding our business. When we started in 2006, our business volume stood at Rs 2,565 crore. It has now grown to Rs 9,520 crore," Singh said.

Assam Gramin Vikash Bank today rolled out 11 new branches across different districts of the state.

"With these, the total number of our branches has gone up to 388, making us the largest network in the state. We are also the largest regional bank in India," Singh said.

The Bank is also planning to roll out 13 more branches within the next one month, he added.

Assam Gramin Vikash Bank is a joint undertaking of the Union government, Assam government and United Bank of India.

The lender has a total customer base of around 55 lakh.