Pallavan Grama
Bank, Sponsored by Indian Bank was formed on 31-08-2006 by amalgamation
of erstwhile Adhiyaman Grama Bank, Dharmapuri & Vallalar Grama
Bank, Cuddalore as per GOI Gazatte Notification dated 31-08-2006.
Area of Operation
Prior to amalgamation, Adhiyaman Grama Bank with
its Headquarters at Dharmapuri was functioning in two districts
viz. Dharmapuri & Krishnagiri and Vallalar Grama Bank with
its Headquarters at Cuddalore was functioning in two districts
viz. Cuddalore and Villupuram
After amalgamation, the Bank has been allotted additional
11 Districts viz., Coimbatore, (Tiruppur.) Erode, Kancheepuram,
Karur, Namakkal, Nilgiris, Salem, Thiruvallur, Thiruvannamalai
and Vellore taking the total number of districts to 15.
Share Capital
The authorised capital of the Bank is Rs.500.00 lakhs and the paid
up capital is Rs.200.00 lakhs shared by the shareholders as
below.
| Government of India (50 %) |
- Rs. 100.00 lakhs |
| Government of Tamil Nadu (15 %) |
- Rs. 30.00 lakhs |
| Indian Bank (35 %) |
- Rs. 70.00 lakhs |
Both the erstwhile RRBs have been selected for restructuring and
additional capital has been infused to them. The amount of Share
Capital Deposit received stands as follows.
| Government of India (50 %) |
- Rs. 227.89 lakhs |
| Government of Tamil Nadu (15 %) |
- Rs. 68.36 lakhs |
| Indian Bank (35 %) |
- Rs. 159.53 lakhs |
|