Arunachal Pradesh Rural Bank to provide financial assistance to public to build houses along Indo-China border

Amid reports of China developing infrastructure across Arunachal Pradesh border, the state local rural bank of Arunachal is now mulling plans to provide financial assistance to support its customers in housing, medical assistance and others.

Arunachal Pradesh Rural Bank (APRB) is emerging high to support rural and urban customers gaining trust after failed banking system.

Lauding the performance of the bank, Chairman Dr Deepak Kumar Gupta informs that the financial health indicator of APRB is one of the best across regional rural banks (RRRs) in the country. Its Capital Adequacy Ratio stood at 13.96% against the NABARD benchmark of 9% for RRBs. 
In addition to the best financial report of September 30, Dr Gupta also informed that APRB is going to open its 32nd branch in Palin during the first week of November. The bank also plans to open new branches in Seppa, Tawang, Dirang and Bomdila in the last quarter of this current financial year when the bank will recruit new people.

The bank has taken a vision in line with the instruction of DFS, the Ministry of Finance to give social security schemes like PMSBY, PMJJBY and API to all PMJDY account holders. The bank is live on ePPA mode for PFMS transactions which is done by government departments that have opened their accounts with APRB.

According to the chairman, the Rural Bank is now having all online facilities including transactions by UPI. “APRB is committed to serving the citizens of Arunachal both in rural and urban areas of the state,” added chairman, Gupta.

The lending loan procedure will be improved with less documentation and easier for all the customers. 

Chairman states "APRB is now dancing, A bank which was not at all called a performing bank is now a vibrant bank, within the six months APRB generated a net profit of more than 9 crores. In the last financial year we got 12.33 crore profit in a year and now in six months only we crossed 9.14 crores of profit.

The bank has also started lending towards government-sponsored schemes like PMEGP, PMSVANDHI, DDBU, and CMKRY. It is extending interest subvention from the government of India to its KCC borrowers. The bank is extending loans to farmers through the Atma Nirbhar Bagwani and Krishi Yojana schemes of the state government. It is the main bank of the state for financing Self Help Groups.

Arunachal Rural bank also established a permanent Rural Self Employment Training Institute RSETI at Yupia to give a skill development training programme on ‘mushroom, papad, pickle, masala powder and soft toy-making at the APRB-RSETI training hall here in Papum Pare district & also sponsored to make 60 bedded two hostels for both male & female at RSETI Yupia.

APRB gave housing loan with a portfolio of above 38 crores as housing loans caters for the economic development of the state and also generates employment.

IT team of APRB achieved a new milestone by onboarding it on the UPI platform and all the customers can avail of this facility of APRB.

In the upcoming November, 14 new ATMs will be launched all across the state as APRB got the licence from RBI.

Regarding the opening of a branch near Indo China border, the Chairman informed that APRB officials went Shi Yomi district and surveyed the Tato & Monigaon towns & after verifying the feasibility APRB will soon open a branch there to serve the customers.

According to Chairman Dr Gupta, they are opening branches in places where police stations already exist & functional citing security reasons and informing that now in more than 26 branches of Rural banks security guards had been deployed by outsourcing with private security agencies. APRB had insured all its assets by SBI General Insurance company to gain LAP Loan against the property will be launched by APRB in a few selected towns Itanagar, Pasighat, Ziro, and Naharlagun after the survey.

The rural bank has also extended aid in developing medical infrastructure in the state. Arunachal Pradesh Rural Bank has already financed CT Scan machines in Ziro, Tezu, and Namsai to improve medical infrastructure under the APRB Medicare product scheme which gives loans to doctors, clinics, and hospitals under Rs 2 crore with minimum interest. 

APRB is ready to provide loans to avail any facilities like Radiology equipment, Polyclinics, opening medical shops, operation theatres, pathology equipment, or importing precision, ultrasound machines by any private or government sector.

Acknowledging the present state government for utilizing the services of APRB, the chairman said that it is a proud moment for the people of the state as the bank belongs to the state of Arunachal, where the state government has 15% of the share.

He said that the bank has sanctioned agriculture loans to the tune of Rs 15 crore to more than 1,500 beneficiaries and it is still going on. The bank has surpassed its deposit by more than Rs 1,100 crore.

He said the bank is only in the state among all other banks towards SHG Credit Linkage. Last year, in performance under SHG Credit Linkage, APRB topped the list on a pan-India basis.

 

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