Madhya Pradesh Grameen Bank, a Regional Rural Bank, constituted on 1St April, 2019 after amalgamation of two Regional Rural Banks (RRBs) namely Narmada Jhaubua Grameen Bank and Central Madhya Pradesh Gramin Bank as per Government of India Gazette Notification No. S.O. 291 (E) dated 11- 01-2019 in the public interest and in the interest of the development of the area served by the aforesaid Regional Rural Banks. Erstwhile Narmada Jhabua Gramin Bank was sponsored by Bank of India while Central Madhya Pradesh Gramin Bank was sponsored by Central Bank of India. The amalgamated entity Madhya Pradesh Gramin Bank functions under Regional Rural Banks Act 1976 having its Head Office at Indore (M.P.) under the sponsorship of Bank of India. The Bank is operating in 39 districts of Madhya Pradesh namely Bank is having a network of 866 Branches & 14 Regional Offices. All branches are on CBS platform. RTGS/NEFT facility is enabled in all branches. Internet (View) facility is also available. Regional Rural Banks (RRBs) were established under the provisions of the Ordinance promulgated on the 26th September 1975 and followed by Regional Rural Banks Act, 1976 with a view to develop the rural economy and to create a supplementary channel to the 'Cooperative Credit Structure' with a view to enlarge institutional credit for the rural and agriculture sector. The Government of India, the concerned State Government and the bank, which had sponsored the RRB contributed to the share capital of RRBs in the proportion of 50%, 15% and 35%, respectively.

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