The Tripura Gramin Bank (TGB) has secured the second position in terms of business, growth, and diverse performance among 43 Regional Rural Banks (RRBs) in India, registering a profit of Rs 27.92 crore after doing business of Rs 12,398.55 crore in the 2023-24 fiscal, a top bank official said on Saturday.
TGB Chairman Satyendra Singh said that as of March 2024, the bank registered an operating profit of Rs 153.04 crore with a net profit of Rs 27.92 crore.
He said that TGB's net profit was Rs 3.62 crore while operating profit was Rs 23.62 crore in the 2022-23 fiscal.
Singh said that in terms of business, growth and various performances, the TGB secured second position among the 43 RRBs in India after the Jharkhand Rajya Gramin Bank, which held top position in the financial year ended March 2024.
There are seven RRBs in the northeastern region including Tripura and Assam.
According to Singh, the TGB’s total business grew by 10 per cent which is Rs 12,398.55 crore as on March 2024 from Rs 11,271.92 crore as on March 2023.
Established 48 years ago (in 1976), the TGB, which is operating across Tripura with 150 full-fledged branches, 12 ultra small branches besides three regional offices, had started posting a net profit of Rs 21.49 lakh from the financial year of 2001-02.
Per branch business has improved to Rs 82.66 crore in the last year compared to Rs 76.16 crore in the previous year, the TGB chief said, adding that per employee business has also increased to Rs 13.96 crore from Rs 12.85 crore in the same period.
He said that the bank has wiped out the entire accumulated loss of Rs 139.40 crore in 2012-13.
The chairman said that the bank's deposits increased to Rs 8800.81 crore in the last fiscal from Rs 8022.56 crore as on March 31, 2023 while the Credit Deposit Ratio increased to 40.88 per cent from 40.50 per cent.
Singh said that with a 10.72 per cent increase, the bank raised its advance to Rs 3597.74 crore in the last fiscal from Rs 3249.36 crore in the previous financial year.
The target of advance for the current year (2024-25) is Rs 4,000 crore, he added.
He said that the tGB has been implementing all the government’s social security schemes, including the PM Jan Dhan accounts, PM Suraksha Bima Yojna, PM Jeevan Jyoti Bima Yojna, Atal Pension Yojana and Mudra Loan.
73rd B.N. Mullik Memorial All India Police Football Championship begins, CM lauds Police's role
Tripura Chief Minister Prof. Dr. Manik Saha today lauded the role of Tripura Police in carrying out various social activities, apart from significantly improving the state's law and order situation.
Tripura to create, fill up 333 posts in various departments
The Tripura Government has announced plans to create and fill up 333 posts across multiple state departments. The decision was taken during a recent cabinet meeting and was revealed by Cabinet Spokesperson Sushanta Chowdhury at a press conference on Monday.
Explosions near Russian Consulate in France have signs of terrorist attack: Moscow
The Russian Foreign Ministry on Monday stated that explosions on the territory of the Russian Consulate General in France's Marseilles resemble a terrorist attack.
Air Force Base in Bangladesh attacked, several injured
In a major incident of lawlessness that is currently prevailing in Bangladesh under the interim government led by Chief Advisor Mohammad Yunus, several miscreants launched an ambush attack on an Air Force Base in Cox's Bazar on the southeast coast of the country.
Indian tech industry to hit $300 bn revenue in FY26, workforce to reach 5.8 mn in FY25
The Indian tech industry is projected to reach $300 billion revenue in FY26, a Nasscom report said on Monday, adding that in the current fiscal (estimated), the industry will add at least 126,000 net new employees, taking the total workforce to 5.8 million.
Telangana tunnel collapse: L&T teams with advanced equipment join rescue operation
Two teams of construction major Larsen & Toubro with advanced equipment on Monday joined the operation to rescue eight trapped workers from an under-construction tunnel, a portion of which collapsed on February 22 in Telangana’s Nagarkurnool district.
Right time to invest in Madhya Pradesh: PM Modi at Global Investors Summit
Prime Minister Narendra Modi on Monday inaugurated the Global Investors Summit here highlighting investment opportunities in Madhya Pradesh and urging investors to tap available potential in the state.
Govt backs India Inc. bid to become major exporter of power equipment
India is on the path to becoming a major exporter of power equipment, with global players showing strong interest in the country’s domestic manufacturing capabilities, Secretary, Ministry of Power, Pankaj Agarwal has said.