The Jharkhand Rajya Gramin Bank was formed through the merger of Vananchal Gramin Bank and Jharkhand Gramin Bank, representing a significant shift in India’s regional banking sector. Officially launched on April 1, 2019, under the Regional Rural Banks Act, 1976, this consolidation showcases the Indian government's commitment to strengthening rural banking in Jharkhand.

Headquartered in Ranchi, the bank operates across all 24 districts of the state and is supported by eight regional offices, ensuring comprehensive rural outreach. The bank's ownership is a collaborative effort: Government of India holds 50%, State Bank of India retains 35%, and the Government of Jharkhand maintains 15%. This balanced ownership model promotes effective governance, aligning with financial inclusion and rural development ambitions.

Offering a wide array of services similar to larger commercial banks, Jharkhand Rajya Gramin Bank provides credit cards, consumer and corporate banking, finance, insurance, investment banking, mortgage loans, private banking, private equity, and wealth management. By blending modern banking facilities with regional and rural growth objectives, the bank sets a unique operational philosophy.

As part of its growth strategy, Jharkhand Rajya Gramin Bank is committed to improving the economic prospects of rural communities through accessible and effective banking solutions. This merger stands as a prime example in the Indian banking industry, particularly highlighting initiatives in regional and rural banking.