Tamil Nadu Grama Bank (TNGB) is a regional rural bank headquartered at

Salem Salem may refer to: Places Canada Ontario * Bruce County ** Salem, Arran–Elderslie, Ontario, in the municipality of Arran–Elderslie ** Salem, South Bruce, Ontario, in the municipality of South Bruce * Salem, Dufferin County, Ontario, part ...

Tamil Nadu Tamil Nadu (; , TN) is a States and union territories of India, state in southern India. It is the List of states and union territories of India by area, tenth largest Indian state by area and the List of states and union territories of India ...

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

. The bank is jointly owned by the

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and state governments and sponsored by the Indian Bank. It is under the

ownership Ownership is the state or fact of legal possession and control over property, which may be any asset, tangible or intangible. Ownership can involve multiple rights, collectively referred to as title, which may be separated and held by different ...

of the Ministry of Finance,

Government of India The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, c ...

. Tamil Nadu Grama Bank was formed on 1 April 2019 by the amalgamation of the erstwhile Pallavan Grama Bank and Pandyan Grama Bank, as per GOI Gazette Notification No. 363 dated 28 January 2019.

Share Capital

The paid-up capital is Rs. 46.96 crores, shared by the shareholders as below: *

(50%): Rs. 23 crores and 48 lakhs *

Government of Tamil Nadu Government of Tamil Nadu is the subnational government for the Indian state of Tamil Nadu. It is seated at Fort St George, Chennai. The legislature of Tamil Nadu was bicameral until 1986, when it was replaced by a unicameral legislature, lik ...

(15%): Rs. 7 crores and 4 lakhs * Indian Bank (35%): Rs. 16 crores and 44 lakhs

References

External links

* Regional rural banks of India 2018 establishments in Tamil Nadu Indian companies established in 1977 Banks established in 1977 Banks of India {{India-company-stub