Pallavan Grama Bank, Sponsored by Indian Bank was formed on 31-08-2006 by amalgamation of erstwhile Adhiyaman Grama Bank, Dharmapuri & Vallalar Grama Bank, Cuddalore as per GOI Gazatte Notification dated 31-08-2006.
Area of Operation
Prior to amalgamation, Adhiyaman Grama Bank with its Headquarters at Dharmapuri was functioning in two districts viz. Dharmapuri & Krishnagiri and Vallalar Grama Bank with its Headquarters at Cuddalore was functioning in two districts viz. Cuddalore and Villupuram
After amalgamation, the Bank has been allotted additional 11 Districts viz., Coimbatore, (Tiruppur.) Erode, Kancheepuram, Karur, Namakkal, Nilgiris, Salem, Thiruvallur, Thiruvannamalai and Vellore taking the total number of districts to 15.
Share Capital
The authorised capital of the Bank is Rs.500.00 lakhs and the paid up capital is Rs.200.00 lakhs shared by the shareholders as below.
Area of Operation
Prior to amalgamation, Adhiyaman Grama Bank with its Headquarters at Dharmapuri was functioning in two districts viz. Dharmapuri & Krishnagiri and Vallalar Grama Bank with its Headquarters at Cuddalore was functioning in two districts viz. Cuddalore and Villupuram
After amalgamation, the Bank has been allotted additional 11 Districts viz., Coimbatore, (Tiruppur.) Erode, Kancheepuram, Karur, Namakkal, Nilgiris, Salem, Thiruvallur, Thiruvannamalai and Vellore taking the total number of districts to 15.
Share Capital
The authorised capital of the Bank is Rs.500.00 lakhs and the paid up capital is Rs.200.00 lakhs shared by the shareholders as below.
| Government of India (50 %) | - Rs. 100.00 lakhs |
| Government of Tamil Nadu (15 %) | - Rs. 30.00 lakhs |
| Indian Bank (35 %) | - Rs. 70.00 lakhs |
