Chikmagalur Kodagu Grameena Bank was established in the year of 1984 under the RRB Act1976. The Bank is named after the Districts Chikmagalur and Kodagu where the operational network is spread. The Bank is sponsored by the Corporation Bank a premier public sector Bank. The Bank has its Head Office at Chikmagalur, Karnataka State. The Bank has a net work of 52 branches i.e. 34 branches in Chikmagalur and 18 in Kodaug Districts, with dedicated work force.
The bank offers home loan, personal loan, vehicle loan, agricultural loan, business loan, educational loans etc.
Purpose – To extend loan assistance to the women SHG members to get LPG connection
Type of Loan – Medium Term
Eligible Borrowers – Women SHG which fulfill all SHG norms except SGSY/SHG groups
Category: Priority Sector Unit cost: Rs.3000/- per connection (Inclusive of gas cylinder, regulator & Stove); LPG connection of either HP or Indian Oil corporation shall be financed
Quantum of Loan – Maximum 25% of the quotation /Invoice value
Margin – 25%
Disbursement – Loan proceeds are to be released directly to the dealer /supplier of the unit
Repayment – Loan amount & interest shall be repaid within a maximum period of three years in monthly/quarterly installments to suite the source of income and savings habit of the women.