Odisha Grameen Bank was established since 1st May 2025 with the amalgamation of Odisha Gramya Bank and Utkal Grameen Bank as per Government of India, Department of Financial Services, Ministry of Finance, Notification No. CG-DL-E-07042025-262329 dated 05/04/2025. The share capital of the Bank is contributed in the ratio of 50:15:35 respectively by the Government of India, Government of Odisha and Indian Overseas Bank, the Sponsor Bank.
Odisha Grameen Bank is a scheduled Bank and included in the Second Schedule to the Reserve Bank of India Act, 1934 as per RBI circular No. Government of India, Department of Financial Services, Ministry of Finance, Notification No. CG-DL-E-07042025-262329 published in the extra-ordinary Gazette of India (Part III-Section 4) on 05/04/2025.