The Tripura Gramin Bank has emerged as one of the top performers in the banking sector in the 2018-19 financial year across the country, investing heavily to promote entrepreneurship.
Speaking to reporters, TGB Chairman Mahendra Mohan Goswami said the state Public Sector Undertaking (PSU) has registered a net profit of Rs. 125.44 crore in the last financial year. The Bank also registered business of Rs. 9,000 crores in last financial year, with net Non-Performing Asset (NPA) of zero percent and gross NPA of 8.94 percent, much below the mandate set by the Reserve Bank of India (RBI) and NABARD.
“We are working to develop TGB as a premier bank of the country. We have already emerged as the second bank in the country for implementation of Atal Pension Yojana and was awarded as ‘Outperformer’ by the Pension Fund Regulatory and Development Authority (PFRDA) last year”, Goswami said.
The Tripura Gramin Bank has also heavily invested in entrepreneurship by funding beneficiaries under Swabalamban, Prime Minister Employment Generation Programme (PMEGP), Pradhan Mantri Mudra Yojana (PMMY), Self Help Grops (SHG) and loans under other government sponsored schemes.
The bank has invested Rs. 1,400 crore through loans under different schemes targeted towards entrepreneurs. Among these, the bank has invested Rs. 182 crore through loans under Pradhan Mantri Mudra Yojana alone and claims to have provided 100 percent investment for government-sponsored entrepreneurs.
The bank has got credit efficiency above 100 percent, a benchmark set by NABARD, which is the regulator for Gramin banks. However, TGB recorded 38.49 percent CD ratio in 2018-19, which is slightly lower than 40 percent from the previous financial year.
Tripura Gramin Bank was established on December 21, 1976. The bank could not see any profit till 2001. However, rising from subsequent losses, TGB now has 148 branches, 11 ultra small branches, and 8 ATM counters.