Assam Gramin Bank

Assam Gramin Bank (AGB) in 2026: The Complete, No-Nonsense Guide

If you grew up in a small town anywhere in Assam — Nalbari, Tezpur, Silchar, Bongaigaon, Diphu, Sivasagar — chances are your first brush with formal banking happened inside a Gramin branch. Maybe it was a fixed deposit your grandfather opened for your school fees. Maybe a Kisan Credit Card that helped your uncle buy seeds for the next sowing season. Maybe just a passbook with the words ‘Pragjyotish Gaonlia Bank’ printed on it — a name that even your parents might recognise today only with a faint smile of nostalgia.

Over five decades, those scattered village-level rural banks have been steadily consolidated, modernised, rebranded and reorganised into a single institution: today’s Assam Gramin Bank (AGB). And in October 2025, the bank quietly shed an old name it had carried for almost twenty years — Assam Gramin Vikash Bank, or AGVB — to align with a national renaming exercise across India’s Regional Rural Banks. This long-form guide explains exactly what AGB is in 2026, where it came from, what it offers, and what every existing or prospective customer should know.

Assam Gramin Bank at a Glance

Here is the no-fluff snapshot, sourced directly from the bank’s official website and the Ministry of Finance gazette notification dated 24 October 2025.

The Origin Story: Five Rural Banks, Two Mergers, One AGB

Few banks in India have a backstory as layered as Assam Gramin Bank’s. To understand it, you have to travel back to the mid-1970s when the Government of India was setting up Regional Rural Banks (RRBs) under the RRB Act, 1976. The goal was simple — get organised credit to farmers, agricultural labourers, artisans and small entrepreneurs who could not get a hearing at urban commercial banks.

Over the next decade, Assam ended up with five separate RRBs, each serving a specific belt of the state, each with its own sponsor bank, culture and accounting practice:

•       Pragjyotish Gaonlia Bank — established 6 July 1976

•       Lakhimi Gaonlia Bank — established 29 July 1980

•       Cachar Gramin Bank — established 31 March 1981

•       Subansiri Gaonlia Bank — established 30 March 1982

•       Langpi Dehangi Rural Bank — sponsored by State Bank of India

First Merger — January 2006

Under Government of India Notification No. F.1.(25)/2005 dated 12 January 2006, the first four RRBs sponsored by the erstwhile United Bank of India were amalgamated into a single entity called Assam Gramin Vikash Bank (AGVB). The thinking was straightforward: four small banks running parallel systems was operationally inefficient. A single, larger bank could deliver better technology, stronger governance, and a more uniform customer experience.

Second Merger — April 2019

Thirteen years later, on 1 April 2019, the Government of India took the consolidation a step further. Through Notification No. 854 dated 22 February 2019, Langpi Dehangi Rural Bank — which had been operating under State Bank of India’s sponsorship — was merged into AGVB. From that day onwards, Assam Gramin Vikash Bank became the sole RRB covering the entire geographical area of Assam, operating through 473 branches.

Sponsor Change — April 2020

Then came a quieter but significant shift. When United Bank of India was merged into Punjab National Bank as part of the broader public-sector bank consolidation, AGVB’s sponsorship automatically transferred to PNB with effect from 1 April 2020. That is why every PNB customer in India, and every AGVB customer, share a curious link: the same parent institution stands behind both.

The 2025 Renaming — From AGVB to AGB

The most recent — and for many customers, the most visible — change happened on 24 October 2025. Through a Government of India gazette notification, several Regional Rural Banks across the country were given simpler, state-aligned names. ‘Assam Gramin Vikash Bank’ was officially renamed to ‘Assam Gramin Bank (AGB)’. The bank also adopted the unified ‘One RRB, One Logo’ identity introduced under the broader RRB branding reform.

Importantly, the functional jurisdiction, ownership, branch network, account numbers and IFSC codes of the bank did not change because of the renaming. Customers continued banking exactly as before — only the signage, letterhead and official communications gradually transitioned to the new name.

Ownership, Governance and Regulatory Status

AGB follows the standard tri-partite ownership formula that applies to every RRB in India. The Government of India holds 50%, Punjab National Bank as the sponsor holds 35%, and the Government of Assam holds 15%. This is the same model used for every other RRB in the country, and it is what gives AGB both a sovereign safety net and access to the technology and managerial bandwidth of one of India’s largest public sector banks.

AGB is a Scheduled Bank, listed in the Second Schedule of the Reserve Bank of India Act, 1934. In practical terms, this gives it access to RBI’s clearing and refinance facilities, and brings it under direct RBI supervision. NABARD plays a parallel role as the developmental and refinance institution. The bank operates through a three-tier structure — one Head Office in Guwahati, nine Regional Offices, and 473 branches on the ground.

Branch Network: Banking Every Corner of Assam

473 branches sounds like a modest number until you remember that Assam is geographically large, geographically tricky, and culturally diverse. The branches are organised under nine Regional Offices — Lakhimpur, Guwahati, Nalbari, Silchar, Dibrugarh, Kokrajhar, Diphu, Golaghat, and Tezpur — each acting as the operational and supervisory anchor for its cluster of districts.

AGB branches reach into parts of Assam where private banks have very limited or no presence — Karbi Anglong, Dima Hasao, Bodoland Territorial Region (BTR), the upper Brahmaputra belt, the Barak Valley, and the hill districts. In many of these regions, an AGB branch doubles up as the lifeline for MGNREGA wage credits, scholarship payments, pension disbursements, KCC servicing, and crop loan applications.

Finding Your Nearest AGB Branch

•       Use the official Branch Locator on agvb.bank.in to search by district, branch name or pin code.

•       Each branch listing shows the address, IFSC code, contact details and working hours.

•       Branches generally function Monday to Saturday, with 2nd and 4th Saturdays as non-working days, in line with RBI norms.

•       During ongoing consolidation under the ‘One State One RRB’ reform process, a small number of overlapping or low-volume branches may be rationalised — customers receive prior intimation if their branch is shifted.

AGB IFSC Code: What It Looks Like and How It Works

Every AGB branch has its own IFSC, but the structure follows a clear pattern. Because Punjab National Bank is the sponsor, the IFSC of all AGB branches now begins with PUNB. The widely cited head office / centralised IFSC of Assam Gramin Bank is PUNB0RRBAGB.

Older transactions and old cheque leaves may still show UTBI0RRBAGB — the legacy IFSC from the United Bank of India era. Wherever possible, customers should use the updated PUNB-prefixed IFSC for fresh NEFT, RTGS or IMPS instructions, especially for high-value transfers. Always cross-verify the exact IFSC of your branch using agvb.bank.in or your latest passbook before initiating a transfer.

Deposit Products: Savings, Current, FD, RD and PMJDY

AGB offers the complete deposit-side menu you would expect from a scheduled bank, but with relaxed eligibility, lower minimum balances, and a clear bias towards rural and semi-urban customer needs.

Savings Bank Account

•       Available to any Indian citizen aged 18 and above with valid KYC documents.

•       Minor accounts can be opened through parents or legal guardians.

•       RuPay debit card, passbook, cheque facility and digital banking access included.

•       Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts available with zero balance and built-in benefits.

•       Basic Savings Bank Deposit Accounts (BSBDA) for financial inclusion customers.

Current Account

Designed for traders, shopkeepers, partnership firms, companies and associations that handle frequent cheque-based transactions. Cheque facility is central to the product, with overdraft and cash management add-ons available subject to eligibility.

Fixed Deposits (Term Deposits)

•       Flexible tenures, typically from 7 days to 10 years.

•       Premature withdrawal allowed, with applicable terms.

•       Demand loan and overdraft facility against FD.

•       Nomination facility on all term deposits.

•       Senior citizens aged 60 and above get an additional 0.50% interest per annum.

•       Rates are revised periodically; for current ‘card rates’, refer to agvb.bank.in or the latest interest rate notification at your branch.

Recurring Deposits

•       Monthly instalment plans for steady, gradual savings.

•       Standard tenures of 12 months up to 120 months.

•       Interest typically tracks the term-deposit card rate.

•       Loan or overdraft of up to 90% of the deposited amount available.

•       Senior citizens enjoy the same 0.50% extra interest benefit.

Loan Products: From Crop Finance to Car Loans

AGB’s loan menu reflects its identity. Agriculture and allied activities sit at the centre, but the bank also offers a respectable suite of retail and MSME products to salaried and self-employed customers.

Agriculture Loans

•       Kisan Credit Card (KCC) for crop loans, allied agricultural activities and post-harvest needs.

•       Crop loans linked to harvesting cycles, with flexible repayment schedules.

•       Term loans for farm mechanisation, irrigation, dairy, poultry, piggery, fisheries, horticulture and tea-belt activities.

•       Land development, minor irrigation, plantation and farm-asset loans.

•       SHG and Joint Liability Group (JLG) credit linkages, particularly important for women’s collectives in rural Assam.

Retail Loans

•       Housing loans for purchase, construction, renovation and balance transfer.

•       Vehicle loans — including car loans at competitive interest rates from around 7.5% per annum (subject to current card rates and eligibility).

•       Personal loans for salaried employees of state/central government, PSUs and reputed corporates.

•       Education loans for students from Assam pursuing higher studies in India or abroad.

•       Gold loans for short-term liquidity needs against gold ornaments.

MSME and Business Loans

•       Working capital and term loans for MSMEs in trading, manufacturing and services.

•       MUDRA loans (Shishu, Kishore, Tarun) for micro-entrepreneurs.

•       Stand Up India scheme loans for SC/ST and women entrepreneurs.

•       Overdraft and cash credit facilities against stock, receivables or property.

Government Scheme Loans and Social Security

Beyond its own products, AGB is an active distributor of central and state government welfare schemes. Customers can enrol through the bank for:

•       Pradhan Mantri Jan Dhan Yojana (PMJDY) — zero-balance accounts with overdraft and accident insurance.

•       Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) — life insurance cover at a nominal annual premium.

•       Pradhan Mantri Suraksha Bima Yojana (PMSBY) — accident insurance at a tiny annual premium.

•       Atal Pension Yojana (APY) — guaranteed pension scheme for unorganised sector workers.

•       Sukanya Samriddhi Yojana (SSY) and other small savings schemes where applicable.

Digital Banking, ATMs and Other Conveniences

AGB has steadily moved towards a multi-channel digital model, mindful of the fact that not every customer in rural Assam has reliable smartphone connectivity. The result is a layered set of services rather than a single app.

•       ATMs and Debit Cards: AGB issues RuPay debit cards usable across the national payments network.

•       Internet Banking / Net Banking: For balance enquiry, fund transfer, statement download and standing instructions where connectivity permits.

•       Mobile Banking: A dedicated mobile banking application is available for AGB customers via the Google Play Store.

•       NEFT, RTGS and IMPS: All three inter-bank transfer modes are supported; IFSC verification is essential.

•       UPI: AGB customers can link their accounts to popular UPI apps such as BHIM, Google Pay and PhonePe for everyday digital payments.

•       SMS Banking and Missed Call Banking: Registered mobile numbers can query balance and last transactions via short codes.

•       WhatsApp Banking and RBI WhatsApp updates: Customers can also receive verified Reserve Bank of India notifications through WhatsApp.

•       Direct Benefit Transfer (DBT): MGNREGA wages, pensions, scholarships and welfare credits routinely flow into AGB accounts.

The bank’s official online presence has migrated, in line with RBI’s guidelines for enhanced website security and authenticity, from the older agvbank.co.in domain to the secure agvb.bank.in domain. Customers should access internet banking and information pages only through this verified domain to avoid phishing and money-mule traps.

‘Do Not Become a Money Mule’ — A Word on Banking Safety

Among AGB’s most prominent customer notices in 2025 was a public advisory against becoming a money mule — a person who unknowingly allows their account to be used to move funds for fraudsters in exchange for a small commission. The advisory is straightforward but worth repeating: never share your debit card, OTP, internet banking credentials, UPI PIN or net banking password with anyone, no matter how convincing the caller, message or social media offer sounds. Acting as a money mule is a criminal offence under Indian law.

AGB, like every other Indian bank, never asks customers for OTPs, passwords or full card numbers over the phone. If anyone — even someone claiming to be from the bank or from RBI — asks for these, treat it as fraud and report it via the national cyber-crime helpline 1930 and at cybercrime.gov.in.

How to Open an Account with AGB: Step-by-Step

Eligibility

•       Any Indian citizen aged 18 years and above can open a savings or current account.

•       Minors can hold accounts through their parents or legal guardians.

•       SHGs, JLGs, partnership firms, companies, trusts and societies can open relevant entity-type accounts.

Documents Required

•       Recent passport-size photographs.

•       PAN card (or Form 60 where PAN is not available).

•       Aadhaar card linked to an active mobile number.

•       Additional address proof if Aadhaar address is outdated (electricity bill, voter ID, passport, etc.).

•       Initial deposit as per the chosen product — zero for PMJDY / BSBDA accounts.

The Process

•       Visit your nearest AGB branch listed on agvb.bank.in.

•       Fill in the account opening form; staff will help if needed.

•       Submit KYC documents along with photos and signature.

•       Complete in-person verification, including biometric capture where applicable.

•       Deposit the minimum balance, collect your passbook and welcome kit, and apply for a RuPay debit card.

•       Register for SMS alerts, mobile banking and net banking to begin using digital services.

Who Should Bank With AGB?

AGB is not designed to compete with private banks for HNI wealth management or premium credit cards. Its strengths are very specific, and the following profiles benefit the most:

•       Farmers and tea-garden workers across Assam needing KCC, crop loans or allied agriculture finance.

•       Self-help groups, joint liability groups and women’s collectives looking for institutional credit linkages.

•       Salaried employees of the Assam state government, central departments, PSUs and educational institutions in the state.

•       Small business owners and shopkeepers in tier-2, tier-3 and tier-4 towns.

•       Pensioners and senior citizens who appreciate a nearby branch and the 0.50% extra FD interest.

•       First-time bankers, PMJDY beneficiaries and households receiving DBT credits.

•       Students from Assam looking for education loans for higher studies in India or abroad.

•       Residents in remote districts where AGB is realistically the closest formal bank.

Strengths and Honest Challenges

Where AGB Genuinely Shines

•       Sovereign backing through joint ownership by the Government of India, Punjab National Bank and the Government of Assam.

•       Deposit insurance up to ₹5 lakh per depositor under DICGC — identical to any commercial bank.

•       RBI’s consolidated RRB review identified Assam Gramin Vikash Bank (now AGB) among RRBs with CASA above 70%, indicating a stable, low-cost deposit base.

•       The largest branch network of any bank in rural Assam, with branches in districts where private and even large PSU banks have very limited presence.

•       Strong tie-up with PNB MetLife and other partner insurers for bancassurance distribution.

•       Active role in MGNREGA wage disbursement, DBT, scholarships and pension distribution.

•       Local-language staff who speak Assamese, Bengali, Bodo and Hindi as needed, easing the experience for first-time bankers.

Where AGB Has Room to Improve

•       Internet banking and mobile banking user-experience still lags major private banks, partly due to legacy systems.

•       Branch consolidation under One State One RRB reforms has caused friction with employees and unions in some regions, attracting public attention in 2025.

•       Customer communication around the AGVB → AGB renaming has not always reached every customer; physical signage and cheque books are being updated gradually.

•       Product variety on credit cards, premium wealth management and global banking is limited compared to commercial banks.

•       Awareness of advanced features like Positive Pay, NACH mandates and UPI safety is still uneven across districts.

Frequently Asked Questions (FAQ)

Q1. What is the new name of Assam Gramin Vikash Bank?

Assam Gramin Vikash Bank has been officially renamed to Assam Gramin Bank (AGB), with effect from the Government of India gazette notification dated 24 October 2025. The bank’s ownership, branches, account numbers and IFSC codes have not changed because of the renaming.

Q2. Who is the sponsor bank of Assam Gramin Bank?

Punjab National Bank (PNB) is the sponsor bank of AGB. Sponsorship moved from the erstwhile United Bank of India to PNB on 1 April 2020 following the consolidation of public sector banks.

Q3. What is the IFSC code of Assam Gramin Bank?

The widely used PUNB-prefixed IFSC of AGB is PUNB0RRBAGB. Each branch may have its own branch-specific IFSC; always verify on agvb.bank.in, your latest passbook, or your cheque leaf before initiating a high-value transfer.

Q4. Where is the head office of AGB located?

The head office of Assam Gramin Bank is located in Guwahati, Assam, with the broader head office complex addressed at Pin 781005.

Q5. How many branches does AGB have in Assam?

AGB has 473 branches in Assam, organised under 9 Regional Offices: Lakhimpur, Guwahati, Nalbari, Silchar, Dibrugarh, Kokrajhar, Diphu, Golaghat, and Tezpur.

Q6. Is Assam Gramin Bank safe for deposits?

AGB is a Scheduled Bank regulated by the RBI and government-backed through its tri-partite ownership. All eligible deposits up to ₹5 lakh per depositor are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC), the same protection that applies to every scheduled commercial bank in India.

Q7. Will my AGVB cheque book and ATM card still work after the renaming?

Yes. Existing cheque books and ATM cards issued under the AGVB name remain valid during the transition. New cheque books and cards will progressively be issued under the AGB name. Customers do not need to take any urgent action solely due to the renaming.

Q8. What is the difference between AGVB and AGB?

Assam Gramin Vikash Bank (AGVB) and Assam Gramin Bank (AGB) are the same bank. AGVB was the legal name from 2006 until 24 October 2025, after which the same bank was renamed AGB under a national exercise to simplify RRB names. Operations, ownership and customers remain unchanged.

Final Thoughts: Why AGB Quietly Matters to Assam

Banks are usually judged by their headline numbers — profit, market capitalisation, app downloads, brand value. By those yardsticks, Assam Gramin Bank will never make the front page of a business newspaper. But step into any small town between Dhubri and Sadiya, and you will see why it matters. A retired schoolteacher who has been operating the same passbook since 1990. A farmer using a KCC to buy fertiliser. A young woman in a SHG getting her first loan against group guarantee. A pensioner collecting her monthly DBT credit.

Those are the moments AGB was built for. The bank has gone through name changes, mergers, sponsor switches and rebranding exercises across the last fifty years, but its central job has stayed the same — keep formal banking alive in places where it is hardest to make a business case. The 2025 renaming and the move under PNB’s sponsorship have only strengthened that role. For anyone in Assam choosing a primary bank, especially in rural or semi-urban locations, AGB remains a credible, government-backed, deeply local option.

Walk into your nearest branch with your KYC documents and a clear idea of what you need — a savings account, a fixed deposit, a KCC, a small business loan, or just clarity on the rename. The staff will likely speak your language, and the answers will be straight.