Government of  India, Ministry of Finance has announced the  amalgamation of Chaitanya Grameena Bank and Godavari Grameena Bank sponsored by  Andhra Bank into a single Regional Rural Bank with its Head Office at  Guntur,Andhra Pradesh, vide Notification bearing F.No 1/26/2005-RRB,Dated  01.03.2006.         

The Chaitanya Godavari Grameena  Bank has emerged as a new entity effctive from 01.03.2006. The Head Office of the  new Bank is situated at Guntur, Andhra  Pradesh.         

Share holders.
Government of India                                         50%
Sponsor bank                                                   35%
Government of Andhra Pradesh                          15%