Cauvery Kalpatharu Grameena Bank is one of the Regional Rural Banks established under Regional Rural Banks Act, 1976. Cauvery Kalpatharu Grameena (CKG) Bank was established on 24th May 2006 by amalgamation of Cauvery Grameena Bank and Kalpatharu Grameena Bank. It is sponsored by State Bank of Mysore.
It is jointly owned by Government of India, State Bank of Mysore and Government of Karnataka, the share capital is contributed in the ratio of 50:35:15 respectively. It is a Scheduled Commercial Banks permitted to carry all kinds of business. The bank offers a variety of loan products such as personal loan, agricultural loan, vehicle loan etc.
Purpose – Sanctioning Loans against the goods pledged and having ware house receipt to meet emergent needs
Eligibility – Agriculturists, Traders and Businessmen
Amount of Loan – 65% of the market value of the produce pledged, Maximum amount of loan offered is Rs. 10.00 Lakhs
Type of Loan – Cash Credit
Interest Rate – As applicable to Priority Sector
Other Conditions – Godown or Ware house receipts of centre or state ware House Corporation or co-operative institutions shall alone be accepted, in case where farmers have availed crop loans, proceeds will be adjusted to crop loan account