Puduvai Bharathiar Grama Bank sponsored by Indian Bank was established on 26.3.08 by Government of India vide Ministry of Finance notification no.1/16/2007-RRB (i) dated 26.3.08.  The bank was inaugurated by  Mr. P. Chidambaram, Hon`ble Union Minister of Finance on 01.6.2008.  Sri.V. Narayanasamy, Hon`ble Minister of State for Parliamentary affairs, Sri. N. Rangasamy, Hon`ble Chief Minister of Union Territory of Puducherry and Dr.M.. Ramadoss, Member of Parliament, Puducherry and Sri. M.S. Sundara Rajan, Chairman & Managing Director of Indian Bank and Sri. A.S. Subramanian, Executive Director of Indian Bank were among other dignitaries who took part in inaugural function.

SHEDULED STATUS:

The bank has been given scheduled status by Reserve Bank of India vide notification No.RPCD.CO.RRB.NO.10410/03.05.344/07-08 dated 03.04.08. 

AREA OF OPERATION:

The entire Union Territory of Puducherry covering all the four regions viz Puducherry, Karaikal, Mahe & Yanam comes under the operational area of the Bank.

SHARE CAPITAL:

The authorized capital of the Bank is Rs.500.00 lakhs and paid up capital is Rs.100.00lakhs shared as follows:
Government of India              50%     -           Rs.50.00lakhs
Indian Bank                            35%     -           Rs.35.00lakhs
Government of Puducherry    15%     -           Rs.15.00lakhs