Jharkhand Gramin Bank

What Jharkhand Gramin Bank does

Jharkhand Gramin Bank (JGB) is a Regional Rural Bank (RRB) operating exclusively in the state of Jharkhand, India, sponsored by State Bank of India under the RRB regulatory framework. It was formed in 2019 through the merger of three prior RRBs and rebranded to its current name on October 24, 2025. The bank operates 463 branches and 1,484 Customer Service Points covering all 24 districts of Jharkhand, serving over 75 lakh customers with a portfolio that includes more than 91,000 credit-linked Self-Help Groups and approximately 3.72 lakh Kisan Credit Cards.

JGB's product suite spans savings and current accounts, agriculture loans, MSME and personal loans, and newer asset-backed products such as Fleet Finance and Commercial Vehicle Loans. It also distributes third-party financial products — insurance, mutual funds (via AMFI registration since 2018), and pension products including NPS and NPS Vatsalya. Digital channels include mobile and internet banking, plus DISA and Video-KYC-based paperless Savings Account opening. The bank is ISO 9001:2015 certified and leverages SBI's sponsor technology and operational infrastructure.

Revenue is generated principally through net interest spread on the deposit and advance book, supplemented by fee and commission income from third-party product distribution (insurance, mutual funds, NPS), government Direct Benefit Transfer handling, and priority-sector lending mandates. Customer concentration is spread across rural retail (farmers, SHG members), MSMEs, and government salary/DBT beneficiaries, with no single customer segment materially dominating the book.

Name

Jharkhand Gramin Bank

Legal name

Jharkhand Gramin Bank

Website

https://jrgbank.bank.in

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Jharkhand Gramin Bank is an SBI-sponsored Regional Rural Bank operating 463 branches and 1,484 CSPs across all 24 districts of Jharkhand, serving 75 lakh+ customers with savings accounts, agriculture and MSME loans, and distribution of insurance, mutual fund, and NPS products.

Ownership category

akta.pro rank

Product category

Regional Rural Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021), State Commercial Banks (6022), Functions Related To Depository Banking, Nec (6099), Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Core Banking & Ledger Systems (Cloud Core, Deposits, Accounts) (FSAGAAAC)

Keywords

• Retail banking services
• Rural banking
• Agricultural lending
• Micro finance
• Financial inclusion

Headquarters

HQ city

Ranchi

HQ country

India

HQ region

Asia

Offices9 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Interest Income from Loans: Primary revenue source through interest charged on various loan products including Home Loans, Car Loans, Gold Loans, Personal Loans (Guruji Plus, Guruji Lite, Salary Plus), MSME loans (PMEGP, GST Plus, ABL-SME, SME CRE, Fleet Finance, Commercial Vehicle Loan), Agri Loans, Kisan Credit Cards, and Education Loans. Interest rates vary by product with Car Loan starting from 11.45% p.a.
2. Deposit Products: Revenue from interest spread on deposit products including Savings Accounts (SB General, SB Digital, SB Saving Plus, SB PMJDY, SB Self Help Group, SB PMJDY Kiosk), Current Accounts, Fixed Deposits (Tax Saver, JRGB Dhansanchay 445 Days), and Recurring Deposits
3. Insurance Distribution: Commission income from distribution of SBI Life Insurance and SBI General Insurance products including health, motor, home, travel, and life insurance policies
4. Mutual Fund Distribution: Revenue as AMFI Registered Mutual Fund Distributor (ARN 67688) through commission on mutual fund sales. Commission reports published quarterly for FY 2024-25 and 2025
5. NPS (National Pension System) Distribution: Revenue from NPS registration and subsequent contribution services for retirement planning. Also offers NPS Vatsalya for minors
6. Fee-based Services: Income from service charges including processing fees on loans, account maintenance charges, transaction fees, and charges for services like cheque books, demand drafts, and ATM usage as detailed in JGB Service Charges document

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels6 records

Core offering

Jharkhand Gramin Bank is a Regional Rural Bank that delivers a comprehensive suite of banking and financial services to rural and semi-urban populations across Jharkhand. Its offerings span deposit products (savings, current, fixed and recurring deposits), retail and MSME loan products (home, vehicle, gold, personal, KCC, MSME and women-entrepreneur loans), government-sponsored insurance and pension schemes (APY, PMSBY, PMJJBY, NPS), insurance and mutual fund distribution, and digital banking channels including Internet Banking, Mobile Banking and DISA-based video KYC account opening.

Product overview

Jharkhand Gramin Bank offers a comprehensive suite of banking products and services organized across multiple categories. The core banking offerings include seven distinct savings account variants (SB General, SB Digital, SB Saving Plus, SB PMJDY, SB Self Help Group, SB PMJDY Kiosk), Current Account, and deposit products (Fixed Deposits including Tax Saver and JRGB Dhansanchay 445-day scheme, Recurring Deposit). The loan portfolio spans personal loans (Home Loan, Tribal Plus Home Loan, Car Loan, Gold Loan, Guruji Plus, Guruji Lite, Salary Plus, P-LAP), MSME loans (PMEGP, GST Plus, ABL SME, SME CRE, Insta Credit, Udyami Didi, Commercial Vehicle, Fleet Finance), and agricultural finance (Agri Loan, Kisan Credit Card). Digital banking is delivered through Internet Banking, Mobile Banking (Android/iOS), and DISA App for digital account opening. The bank also distributes social security schemes (APY, PMJJBY, PMSBY), insurance products (SBI Life, SBI General), mutual funds, and NPS pension products. The product architecture emphasizes financial inclusion for rural Jharkhand through government scheme integration (PMJDY, DBT, UPI, RuPay).

Differentiator

Problem solved

Functional benefit

Products and services

• SB General Savings Account Standard savings account for individuals offering interest on deposits, ATM/debit card, internet and mobile banking access, fund transfers via NEFT/RTGS/IMPS/UPI, cheque book facility, and nomination services.
• SB Digital Savings Account Fully digital savings account opened via V-KYC with Aadhaar and PAN verification through the DISA platform, with zero or low minimum balance, instant activation, UPI payments and 24/7 self-service.
• SB Saving Plus Account Savings account with linked Multi Option Deposit (MOD) facility offering 1-5 year deposit periods, free debit card, no minimum balance requirement, and up to 10 free cheque leaves per annum.
• SB PMJDY Account Pradhan Mantri Jan Dhan Yojana savings account with zero balance, RuPay debit card with insurance cover, free mobile and SMS banking, overdraft facility up to Rs 10,000 based on eligibility, and DBT enablement.
• SB Self Help Group Account Specialized savings account for registered or unregistered Self Help Groups offering group banking with joint operation, designated signatories, and access to group credit linkage under government schemes.
• SB PMJDY Kiosk Account PMJDY banking services accessed through Bank Mitras (Business Correspondents) in rural areas using Aadhaar-based e-KYC, DBT reception, and overdraft facility up to Rs 10,000.
• Current Account Business deposit account offering unlimited transactions, overdraft facility, free NEFT/RTGS/IMPS/UPI transfers, cheque book, and internet and mobile banking for businesses.
• Fixed Deposit - Tax Saver Tax-saving fixed deposit under Section 80C with a 5-year lock-in period, investment limit of Rs 1.5 lakh per financial year, and senior citizen benefits.
• Fixed Deposit - JRGB Dhansanchay 445 Days Special fixed deposit scheme with a 445-day tenure offering attractive interest rates, quarterly interest payment options, and automatic renewal on maturity.
• Recurring Deposit Monthly recurring deposit scheme with flexible tenures from 6 months to 10 years, quarterly interest compounding, loan against RD facility, and nomination services.
• Home Loan Loan for purchase, construction, extension, renovation, takeover from other banks, plot purchase and furnishing of a house with maximum tenure of 30 years or age 70, and minimum credit score of 520.
• Tribal Plus Home Loan Special home loan for hilly and tribal areas that does not require land mortgage, accepts third-party guarantees, with maximum loan of Rs 25 lakh and tenure up to 15 years.
• Car Loan Loan for purchase of new passenger cars, SUVs, and MUVs with maximum limit of Rs 1 crore (Rs 1.5 crore for groups), 84-month repayment, interest rate starting from 11.45% p.a., and 15% margin on on-road price.
• Gold Loan Personal loan against gold ornament collateral with limit of Rs 20,000 to Rs 10 lakh, maximum 12-month repayment (or 36 months bullet), 35% margin on gold value, and CIBIL score requirement of 550 or above.
• JRGB Guruji Plus Personal loan for government teachers with maximum limit of Rs 20 lakh, 72-month repayment, minimum CIBIL score of 650, and third-party guarantee mandatory (waived for scores above 734).
• JRGB Guruji Lite Personal loan for para teachers with limit of Rs 50,000 to Rs 5 lakh, 60-month repayment, salary account must be with the bank, and Group Personal Accident Insurance mandatory.
• JRGB Salary Plus Salary-linked personal loan for government and PSU employees with minimum 1-year service and minimum salary of Rs 5,000; third-party guarantee required (waived for CIBIL above 734).
• P-LAP (Personal Loan Against Property) Loan against residential or commercial property for personal expenses with minimum income of Rs 25,000 per month, CIBIL score requirements by category, and property mortgage required.
• PMEGP (Prime Minister's Employment Generation Programme) Credit-linked subsidy program for micro enterprise establishment in rural and urban areas, merging the previous PMRY and REG schemes under the Khadi and Village Industries Commission.
• GST Plus Scheme Working capital loan for GST-registered MSMEs with quantum of 25% of GST sales of past 12 months, limits of Rs 10 lakh to Rs 1 crore, 12-month cash credit or up to 5-year dropline overdraft, and minimum CIBIL score of 650.
• ABL - SME (Asset Backed Loan) Drop-line overdraft or cash credit for current assets and fixed assets with limits of Rs 25 lakh to Rs 30 crore, 80% LTV on immovable property, and annual renewal.
• SME CRE (Commercial Real Estate) Loan for commercial real estate creation or acquisition with LTV at 50%, 25% margin, and limits up to Rs 10 crore (urban), Rs 5 crore (semi-urban), and Rs 50 lakh (rural).
• Builder Tie Up & Finance Finance facility for builders tied up with the bank for residential or commercial project development.
• Insta Credit Quick credit for WSHG (Women Self Help Group) members with limits of Rs 50,000 to Rs 5 lakh, nil margin up to Rs 5 lakh, 5-year maximum tenure, and no third-party guarantee required.
• Udyami Didi Women-focused micro-enterprise loan sponsored by NRLM/JSLPS with project cost from Rs 1 lakh, loan limits of Rs 75,000 to Rs 5 lakh, Aadhaar-based KYC, and PAN not insisted upon.
• Commercial Vehicle Loan Loan for new commercial vehicles, EVs, hybrids, CNG vehicles and ambulances with limits of Rs 10-50 lakh, 84-month repayment for CV, 48 months for EV, and 15% margin.
• Fleet Finance Fleet operator financing for operators with 5 or more vehicles, limits of Rs 50 lakh to Rs 10 crore, 10-15% margin based on scoring, and minimum CIBIL score of 650.
• Agri Loan Term loan for allied agricultural activities including dairy, poultry, fisheries, goat/sheep/piggery rearing, bee keeping, agri clinic and agri business centers, food and agro processing. Excludes crop loans and land improvement.
• Kisan Credit Card (KCC) Credit card for farmers providing short-term cultivation loans, post-harvest expenses, consumption needs, working capital for farm assets, and investment credit for agriculture and allied activities like dairy and fisheries.
• Internet Banking Online banking platform for account access, fund transfers (NEFT/RTGS/IMPS/UPI), bill payments, statement viewing, and service requests available 24/7.
• Mobile Banking (Android) Android mobile banking app for account management, fund transfers, UPI payments, and transaction alerts available on Google Play Store.
• Mobile Banking (iOS) iOS mobile banking app (Jharkhand Rajya Mobile Banking) for Apple device users offering account access and banking services.
• DISA App (Digital Account Opening) Paperless digital account opening service through the DISA Agent App using V-KYC with Aadhaar and PAN verification and video-based identity verification, with instant account activation.
• APY (Atal Pension Yojana) Government-backed pension scheme for citizens aged 18-40 offering guaranteed monthly pension of Rs 1,000 to Rs 5,000 after age 60, distributed through the bank's branch and CSP network.
• PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) Government life insurance scheme for individuals aged 18-50 providing Rs 2 lakh coverage at Rs 436 annual premium for death due to any cause, distributed through the bank.
• PMSBY (Pradhan Mantri Suraksha Bima Yojana) Accident insurance scheme for individuals aged 18-70 offering Rs 2 lakh for accidental death or total disability and Rs 1 lakh for partial disability at Rs 20 annual premium, distributed through the bank.
• SBI Life Insurance Distribution of SBI Life Insurance products through the bank including Smart Fortune Builder, Smart Platina Supreme, Smart Privilege Plus, and Smart Bachat Plus, with commission income to the bank.
• SBI General Insurance Distribution of SBI General Insurance products including health, motor, home, and travel insurance with offerings such as Retire Smart Plus and Saral Swadhan Supreme.
• Mutual Funds Distribution AMFI-registered mutual fund distribution service (ARN 67688) since 2018 offering various mutual fund schemes with quarterly commission reports and SID/SAI/KIM documentation.
• NPS (National Pension System) Retirement pension scheme service with NPS registration and subsequent contribution facilities, including NPS Vatsalya for minors, offered through the bank's branch and CSP network.

Quantifiable outcome

• Net NPA maintained at 0.57% - among the best in Indian banking sector
• +4 more outcomes

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration18 records

Feature4 records

Partnerships

14 partnerships are on record, tiered core and minor.

• AMFI (Association of Mutual Funds in India)coreGTM or Marketing Partner · 22 November 2018JGB is registered as AMFI Mutual Fund Distributor with ARN 67688 (valid till 21/11/2027) enabling distribution of mutual fund products. Commission reports published quarterly.
• State Bank of India (SBI)coreStrategic or Co-development PartnerSBI is the sponsor bank for Jharkhand Gramin Bank, providing financial backing, technological infrastructure, and operational support. The bank operates under SBI's umbrella as a Regional Rural Bank. Chairman Shri Madan Mohan Bariar leads the bank with support from SBI officers in key positions (DGM from SBI Corporate Centre Mumbai, DGM from SBI LHO Patna).
• ICRAminorOthersCredit rating agency that provides BBB+ (Positive) rating for Jharkhand Gramin Bank, indicating adequate safety for timely servicing of financial obligations.
• CARE RatingsminorOthersCredit rating agency that provides CARE A-; Stable rating for Jharkhand Gramin Bank, validating the bank's financial stability and creditworthiness.
• PFRDA (Pension Fund Regulatory and Development Authority)coreStrategic or Co-development PartnerRegulatory body for pension sector that partners with JGB for NPS (National Pension System) and NPS Vatsalya distribution. JGB ranks #1 among all banks in APY performance and has received highest AAPB award from PFRDA.
• NRLM/JSLPS (National Rural Livelihoods Mission / Jharkhand State Livelihood Promotion Society)coreStrategic or Co-development PartnerNRLM/JSLPS identifies women micro-entrepreneurs from SHGs and forwards applications to JGB branches for Udyami Didi scheme. Over 91,000 women SHGs credit-linked through this partnership, impacting approximately 9 lakh women.
• Government of India - Ministry of Finance, Department of Financial ServicescoreStrategic or Co-development PartnerDFS official Shri Ajay Kumar Mishra serves on the Board of Directors. The bank operates under RBI guidelines and government priority sector lending mandates for rural financial inclusion.
• RBI (Reserve Bank of India)coreOthersRegulatory authority overseeing RRB operations. AGM from RBI Ranchi serves on the Board of Directors. Provides regulatory framework and supervisory oversight.
• NABARDcoreStrategic or Co-development PartnerNational Bank for Agriculture and Rural Development. DGM from NABARD serves on the Board of Directors. Provides refinance support and developmental role for rural credit.
• SBI Life InsurancecoreGTM or Marketing PartnerLife insurance products offered through JGB branches including Smart Fortune Builder, Smart Platina Supreme, Smart Privilege Plus, and Smart Bachat Plus. JGB acts as distribution channel for SBI Life products.
• SBI General InsurancecoreGTM or Marketing PartnerGeneral insurance products including health, motor, home, and travel insurance offered through JGB. Products include Retire Smart Plus, Saral Swadhan Supreme. JGB acts as distribution channel.
• UIDAI (Unique Identification Authority of India)coreTechnology or IntegrationIntegration with Aadhaar for KYC verification enabling digital account opening through V-KYC. Aadhaar-based e-KYC used for PMJDY accounts and kiosk banking.
• NPCI (National Payments Corporation of India)coreTechnology or IntegrationIntegration for UPI, IMPS, NEFT, RTGS, and RuPay debit card services. Enables digital payments and fund transfers for JGB customers.
• Government of JharkhandcoreStrategic or Co-development PartnerAdditional Secretary from GoJ serves on Board of Directors. Bank serves as banking partner for state government schemes and DBT disbursements. Tagline: 'Jharkhand ka apna bank' (Jharkhand's own bank).

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Bank of India: Bank of India was the sponsor of one of the two predecessor RRBs that merged to form the current JGB in 2019. As a major PSU commercial bank with strong Jharkhand presence, BOI is a broad incumbent overlapping in rural lending and government-scheme distribution.
• State Bank of India: SBI is the sponsor bank of Jharkhand Gramin Bank, providing technological infrastructure, financial backing, and senior officer deployment. As India's largest commercial bank with extensive rural presence, SBI is the broadest incumbent whose operations overlap substantially with JGB's Jharkhand territory.
• UCO Bank: UCO Bank is the sponsor of Bihar Gramin Bank (JGB's neighboring RRB) and operates a substantial PSU commercial banking franchise with rural focus. Comparable as a broad incumbent in regional rural banking and government-scheme execution.
• Canara Bank: Canara Bank is a major PSU commercial bank that sponsors multiple RRBs and operates across rural India. As a broad incumbent with overlapping MSME, agri, and personal loan products, Canara is a relevant peer for JGB in the rural financial-services space.
• Punjab National Bank: Large PSU commercial bank with significant rural and semi-urban presence across India. PNB operates in Jharkhand and offers comparable savings, MSME, and agri loan products, making it a broad incumbent peer for customer wallet-share competition.
• Indian Bank: Indian Bank sponsors multiple RRBs and is a large PSU commercial bank with strong rural and MSME lending franchises. Comparable as a broad incumbent in the rural banking and government-scheme distribution space.

Direct peers

• Chhattisgarh Rajya Gramin Bank: SBI-sponsored RRB operating in Chhattishand. Direct comparable to JGB in scale, customer profile (tribal/rural), product suite, branch+CSP distribution model, and government-scheme execution.
• Bihar Gramin Bank: UCO Bank-sponsored RRB operating in Bihar (Jharkhand's parent state). Highly comparable to JGB in geography, customer demographic, and rural financial-inclusion mandate; a natural cross-border peer given shared linguistic and cultural ecosystem.
• Uttarakhand Gramin Bank: Another SBI-sponsored Regional Rural Bank operating in Uttarakhand. Highly comparable to JGB in structure, regulatory framework, government-scheme integration, digital banking stack, and rural financial-inclusion mandate.
• Uttar Pradesh Gramin Bank: One of India's largest RRBs, sponsored by SBI, operating in Uttar Pradesh. Comparable to JGB in regulatory structure, products, and rural banking mandate, with broader scale and similar government-scheme integration.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

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Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles26 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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Frequently asked questions about Jharkhand Gramin Bank