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.
Ruckus over Waqf Amendment Act in J&K Assembly, adjourned briefly
The proceedings of the Jammu and Kashmir Legislative Assembly were marred on Monday as NC, Congress, PDP, and some Independent MLAs protested against the Waqf Amendment Act passed by Parliament, prompting the Speaker to adjourn the House for 15 minutes.
Pakistani Army violates ceasefire on LoC in J&K’s Poonch
The Pakistani Army violated the ceasefire on Monday on the Line of Control (LoC) in Jammu and Kashmir’s Poonch district, and the Indian Army retaliated befittingly, officials said.
They're dying to make deal: Trump stands firm on 'reciprocal tariffs'
As global stock markets plunged on Monday, US President Donald Trump defended his controversial tariff policies, dismissing concerns over the economic impact. He said that the world leaders are "dying to make a deal" to negotiate the reciprocal tariffs.
World Health Day: PM Modi urges nation to fight obesity, calls fitness key to Viksit Bharat
Prime Minister Narendra Modi, on the occasion of World Health Day on Monday, urged Indians to adopt a healthier lifestyle and work towards a life free from obesity.
ED raids premises linked to TN Minister KN Nehru’s brother
The Directorate of Enforcement (ED) on Monday carried out raids at the premises of a construction company owned by Ravichandran, the brother of Tamil Nadu municipal administration Minister K.N. Nehru.
India's northeastern region is a jewel, says German Ambassador Ackermann
German Ambassador to India Philipp Ackermann has said that India's northeast region is a jewel. The German envoy, who recently visited various tourism and important places of Assam, Arunachal Pradesh and Meghalaya, in a video post in the social media, said that travelling to the northeastern region of India was very rewarding for him.
State budget emphasis on major infrastructural boost in Tripura to attract investors: CM Dr Manik Saha
Chief Minister Dr Manik Saha on Sunday claimed that the developing infrastructure in the state of Tripura is gradually attracting more investors in the state, which perhaps will boost the state’s economy.
M.A. Baby new CPI-M general secretary; Prakash and Brinda Karat step down from Politburo
The 24th Party Congress Communist Party of India (Marxist) concluded in Madurai on Sunday, marking a significant leadership transition. Senior party leader and Politburo member M.A. Baby has been appointed as the new General Secretary of the CPI-M,