Agartala, May 10, 2024: Tripura Gramin Bank, now a part of Punjab National Bank (previously associated with United Bank of India), witnessed a 10 percent increase in its total business, reaching Rs 12,398.55 crore as of March 31, 2024, up from Rs 11,271.92 crore on March 31, 2023. The bank also reported a significant rise in its operating profit to Rs 153.04 crore, with a net profit of Rs 27.92 crore for the fiscal year 2023-24, marking a substantial improvement from the operating profit of Rs 23.62 crore and a net profit of Rs 3.62 crore in the previous fiscal year 2022-23.
“Tripura Gramin Bank, operating under Punjab National Bank, reported a Credit-Deposit (CD) ratio of 40.88 percent and a 10 percent increase in total business. The bank’s deposits rose by 9.70 percent, amounting to Rs 8,800.81 crore as of March 31, 2024, up from Rs 8,022.56 crore on the same date in 2023. Advances grew by 10.72 percent, reaching Rs 3,597.74 crore as of March 31, 2024, compared to Rs 3,249.36 crore a year earlier. The bank experienced a dramatic increase in operating profit by 547.93 percent and in net profit by 671.27 percent,” stated Satyendra Singh, Chairman of Tripura Gramin Bank at a press conference in Agartala on Friday.
He further added, “The bank has successfully generated a significant commission of Rs 1.54 crore by selling third-party products such as insurance from PNB MetLife, Bajaj, and others. Despite the challenging global bond market and rising interest rates, TGB secured a capital gain/trading profit of Rs 3.96 crore from its investments. Moreover, the bank’s total interest income from investments for the fiscal year 2023-24 was approximately Rs 424.37 crore, a 4.99 percent growth from Rs 404.19 crore in the previous fiscal year.”
During the fiscal year 2023-24, Tripura Gramin Bank allocated a significant Rs 2,192.64 crore across various loan programs, marking an increase from Rs 1,511.40 crore in the previous fiscal year. As of March 31, 2024, the bank’s gross Non-Performing Assets (NPA) were reported at Rs 168.94 crore, showing a decrease from 5.10 percent to 4.69 percent over the year. Notably, the bank’s net NPA stands at zero.
In its commitment to Corporate Social Responsibility (CSR), the bank sponsored Rs 30,000 to Aaradhya Das, a nine-year-old professional chess player from Tripura, aiding her participation in international chess tournaments. Additionally, on Children’s Day, November 14, 2024, the bank engaged with Samarth, a multidisciplinary rehabilitation center for children with disabilities, and distributed educational materials. The bank’s advances in agriculture reached Rs 991.26 crore, and the total advances to the priority sector stood at Rs 2,904.49 crore as of March 31, 2024.
The chairman further announced that TGB has expanded its network by adding 121 new BC agents, bringing the total to 439 BC points across Tripura, enhancing banking accessibility for residents. Among these, 89 active BC Sakhi agents are operational. TGB has also introduced its first solar-powered mobile banking unit, ‘TGB on wheels,’ equipped with an ATM and offering essential banking services such as account opening, cash deposits and withdrawals, fund transfers, mini statements, passbook updates, and more.
Highlighting the accolades of Tripura Gramin Bank, Chairman Singh announced, “TGB has been honored with the ‘Award of Par Excellence’ in the AMAZING ACHIEVERS OF APY (AAA) 2023-2024 Campaign, securing the 1st rank among 43 Regional Rural Banks (RRBs) in India. The TGB Mungiakami branch alone enrolled 673 APYs, earning the ‘Award of Exemplary Achiever’. Additionally, TGB received the ‘Annual Award of Inspirational Achiever’ in the APY ANNUAL AWARDS 2023-2024 Campaign, ranking 2nd nationwide. The bank also claimed the top spot with the ‘Exemplary Award of Par-Excellence’ in the APY CIRCLE OF EXCELLENCE 2023-2024 Campaign. In the LEADERSHIP PINNACLE 2023-2024 APY Campaign, TGB ranked 4th, and it secured the 12th position with a ‘Certificate of Excellence’ in the RISE ABOVE THE REST 2023-2024 Campaign. Furthermore, TGB ranked 19th in the SHINE AND SUCCEED 2023-24 APY campaign, and notably, it won most of the Winning Wednesday Awards in APY for consistently enrolling at least 200 APYs every Wednesday each month during the fiscal year 2023-24. Lastly, TGB was awarded the Best Departmental Stall (1st Rank) at the 18th Regional Saras Fair held from December 28, 2023, to January 8, 2024.”
Tripura Gramin Bank has made significant strides in social security schemes, enrolling 490,800 individuals in PM Jan Dhan Yojana, 422,652 in PM Suraksha Bima Yojana, 181,074 in PM Jeevan Jyoti Bima Yojana, and 121,872 in Atal Pension Yojana.
The bank sanctioned a total of Rs 50.83 crore across 11,469 Kisan Credit Card (KCC) loans, Rs 160.97 crore for 13,511 Mudra loans, and Rs 205.78 crore for 13,663 Self-Help Groups (SHGs) in the financial year 2023-24. Additionally, Rs 21.31 crore was allocated for 315 groups under the Prime Minister’s Employment Generation Programme (PMEGP), and Rs 31.27 crore for 911 groups under the Swablamban scheme. The bank also disbursed 481 loans totaling Rs 3.92 crore in the fisheries sector, 343 loans amounting to Rs 3.04 crore in animal husbandry, and 911 loans totaling Rs 5.80 crore under the Joint Liability Group (JLG) model.
Bank’s general managers Santosh Kumar Rawat and Shishir Kumar Rastogi were also present in the press conference.
