Arunachal Rural Bank launches 14 ATMs and 2 new branches to support vibrant villages program in border areas

In a historic achievement for Arunachal Pradesh Rural Bank (APRB), 14 new ATMs will be launched in various remote towns of Arunachal Pradesh to ensure cash availability for customers of interior rural towns and villages. Two new branches, Bage Tinali and Seppa Town, will also be inaugurated by Union Law and Justice Minister Kiren Rijiju on April 15, 2023.

Dr. Deepak Gupta, Chairman of APRB, spoke to India Today and shared the bank's aim to provide service to the unbanked and strategically located far-flung rural areas of the state. "Until now, private banks only aimed to earn profits from citizens of the capital and its adjoining areas, neglecting rural places of Arunachal Pradesh, where citizens get deprived of banking services," he said.

The establishment of the Rural Bank branch at Nacho, the far-flung border town of Upper Subansiri district, is a remarkable achievement for the bank. The branch is working with the help of VSAT, and BSNL authorities have been apprised to ensure their bandwidth frequency in those towns, enabling hassle-free services to customers of these far-flung, less populated border towns.

With the launch of the Vibrant Villages program by Union Home Minister, the Rural Bank can play a vital role in supporting the development of border areas. The bank's operation in border towns will provide adequate capital to support citizens' ventures and promote successful undertakings.

Self-help groups contribute to the development of rural villages, and APRB is among the first banks in providing SHG linkage through Arunachal State Rural Livelihood Mission ArSRLM. APRB is providing medium and long-term loans to the agriculturists and horticulturists of the state, and for border districts like Kurungkumey, Shiyomi, Upper Subansiri, and Upper Siang, it can be a game-changer in providing development and enhancing the efforts towards building the creditworthiness of rural citizens.

The bank is aiming to open branches in Monigaon and Tato towns of Shi Yomi district of Arunachal bordering China. A survey has been done along with the local MLA cum Speaker of Arunachal Pradesh Legislative Assembly, Pasang Dorjee Sona.

On April 15, APRB will also handover cheques and certificates to the beneficiaries of Government-sponsored schemes and provide financial help to citizens who lost their nominee members or witness disability through accidents under innovative schemes like Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Yojana.

The Arunachal Pradesh Rural Bank has accumulated 4 lakh customers, making it a milestone for a sparsely populated state like Arunachal. Due to the support and trust of their esteemed customers, the bank has strengthened its capital base with a deposit of 13,000 crores. The bank's loan amount also grew about 40%, and its profit generation has crossed 27 crores last financial year, making it one of the prominent taxpayers of the state.

Dr. Gupta stated that with the new perspective of their customers, the bank's staff will enable a 20-25% growth in the near future and cross a deposit of 15,000 crores soon. If the state government ensures full support, then the sky will be the limit for their bank.