North Malabar Gramin Bank Explained

North Malabar Gramin Bank
Type:Public Sector Bank, sponsored by Syndicate Bank
Successor:Kerala Gramin Bank
Foundation:Estd. under Regional Rural Banks Act 1976
Location:Kannur, Kerala, India
Industry:Financial
Commercial banks
Homepage:www.nmgbank.com

North Malabar Gramin Bank (NMGB; Malayalam: നോർത്ത് മലബാർ ഗ്രാമീൺ ബാങ്ക്) was a Regional Rural Bank in Kerala, India. It was established in 1976 as a Scheduled Commercial Bank as per the Regional Rural Banks Act of 1976 to provide banking facilities in the North Malabar region. It operated in seven districts of Kerala with the headquarters at Kannur, and had 222 branches . The bank distinguished itself as one of the few profit making RRBs in India before its amalgamation.

On 8 July 2013, per a Government of India notification, North Malabar Gramin Bank (sponsored by Syndicate Bank) and South Malabar Gramin Bank (sponsored by Canara Bank) were amalgamated into a single entity as the Kerala Gramin Bank, with its head office at Malappuram, and Canara Bank as the sponsor bank, after consulting NABARD, the concerned sponsor banks and the Government of Kerala.[1]

Board of directors

The bank's board of directors[2] had the following members before its amalgamation into Kerala Gramin Bank

See also

Notes and References

  1. News: Formation of Kerala Gramin Bank notified following merger of two RRBs. 2014-06-30. 2013-07-09. dead. 3 February 2014. https://web.archive.org/web/20140203091947/http://www.thehindubusinessline.com/industry-and-economy/banking/formation-of-kerala-gramin-bank-notified-following-merger-of-two-rrbs/article4897744.ece. Kochi. The Hindu Business Line. Kasturi and Sons. dmy-all.
  2. Web site: NMGB Board.