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, home loan, agricultural loan, vehicle loan etc.
Objective – To provide hassle free credit to Bank’s customers based on the assessment of cash flow without insistence on security, purpose or end use of the credit
Loan Amount – Limit will be fixed based on the assessment of income and cash flow of the entire household. Maximum limit Rs 25,000/, which is subjected to periodical review
Type of Loan – Clean Cash Credit; the credit facility will be in the nature of revolving limit. The GCC holder will be entitled to draw cash as per his or her requirement from the specified branch up to the limit sanctioned
Interest Rate – As applicable to Priority Sector Advances to be applied on Quarterly bias