Tripura's rural bank posts record Rs. 35.35 crore profit

Agartala, June 4 (ANI): The Tripura Gramin Bank (TGB), one of India's 84 Regional Rural Banks (RRBs), posted a net profit of Rs.35.35 crore in 2009-2010, the highest among RRBs in Tripura.

The bank has 111 branches across the state, which gives flexibility to its customer to open account in any branch.

"We are satisfied. So many people cannot come to Agartala to open an account, so they open an account in Jotanbari, so it is very helpful, we can come any time and open an account," said Edison Uchoi an account holder.

The bank's credit-deposit ratio is now 39 percent.

"We did a total business of 2850 crore rupees, in which there is a deposit of 2550 crore rupees and advance of 800 crore rupees and we have achieved a profit of Rs.35crore, 35 lakh in 2009-10. This is the highest amount of profit by any rural bank in the northeast or eastern India," said D Mushahary, chairman, Tripura Gramin Bank (TGB).

He further claimed that TGB also attained a record in per branch business and per staff business with rupees 2,567 lakh and rupees 438 lakh respectively in fiscal 2009-10 and has targeted to achieve a net profit of rupees 500 lakh (50 million) in the current financial year.

The TGB has issued 1,500 biometric cards to disburse wages under the National Rural Employment Guarantee Act (NREGA) and pension under National Old Age Pension (NOAP) schemes.

Tripura is the second state after Andhra Pradesh to use biometric cards for payments under the NREGA and NOAP. (ANI)