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In exercise of powers conferred under Sub-section (1) of Section 23 (A) of Regional Rural Banks Act 1976 (21 of 1976), the Govt. of India, Ministry of Finance through Notification dated the 31st July 2006 have caused amalgamation of erstwhile Bolangir Anchalik Gramya Bank (BAGB), Kalahandi Anchalik Gramya Bank (KAGB) and Koraput Panchabati Gramya Bank (KPGB) sponsored by State Bank of India in to a single Regional Rural Bank named “ Utkal Gramya Bank” (UGB) which came into existence with effect from 31st July 2006 with its Head Office at Bolangir.

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