Best Growth Story – Chaitanya Godavari Grameena Bank
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CHAITANYA GODAVARI GRAMEENA BANK
Problem
- Limited access to banking services as most banks were concentrated in Urban areas.
- Rural communities often relied on informal sources of credit, such as money lenders.
- Rural areas lacked banking infrastructure which made it inconvenient for the rural residents to access financial transactions.
- Hindered agriculture productivity and rural development due to lack of access to affordable credits.
- Agricultural market challenges
Solution
- Bank Implemented CBS in 2010 which helps in efficient and streamlined operations.
- The establishment of new branches in operational areas increased the market presence with enhanced customer service.
- Recruitment of new staff has done rapidly post 2010 which brought fresh perspectives.
- The bank has committed to promoting Financial Literacy through Financial Literacy Awareness Camps.
- The bank is committed to promoting SHGs by providing finance for various comprehensive purposes.
Outcomes
- Customer Base of the Bank has increased by 2808000 in the year 2022-23.
- Bank registers an YoY growth of 5% in the customer base since 2018 to 2023.
- The extent of coverage of the Financial inclusion schemes such as Atal Pension Yojana are tabulated to be 106547 29.
- The Bank is playing a proactive role in taking the Financial schemes to the targeted population.
- Jeevan Jyothi Bhima Yojana has a coverage of 327068 59in the year 2022-23.
SKOCH Award Nominee
Category: Other – Regional Rural Bank
Sub-Category: secOther – Regional Rural Bank
Project: Best Growth Story
Start Date: 2023-08-30
Organisation: Chaitanya Godavari Grameena Bank
Respondent: Mr KAMESWARA RAO TALASILA, CHAIRMAN
https://cggb.in
Level: Club Plus
See Presentation
Gallery
For more information, please contact:
Mr KAMESWARA RAO TALASILA, CHAIRMAN at chairman@cggb.co.in
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