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 Chairman and two Directors each nominated by Government of India, sponsor Bank and Government of Karnataka and one Director each nominated by NABARD and RBI, head the Bank’s Management.
Purpose – For purchase and installation of Solar Water Heater System
Eligibility – Individuals/Institutions/Associations/Small business establishments with adequate income to service the loan
Quantum of loan – Limit will be up to 75% of the cost of the system with a maximum of Rs.50000/-
Repayment – Within 5 years in monthly/quarterly installments depending on the source of income of the borrower
Type of Loan – Loan shall be considered as Priority Sector advance and classified as Medium Term Loan