Krishna Grameena Bank (KGB) is a Regional Rural Bank established in terms of provisions of Regional Rural Banks Act 1976 & is sponsored by State Bank of India. The shareholders of the Bank are Government of India (50%), State Bank of India (35%) and Government of Karnataka (15 %).
The Bank is established on 01-12-1978. The area of operation of the Bank comprises three districts namely Gulbarga, Bidar and Yadgir. The present Branch network is 119, of which 94 branches functioning in rural area, catering to the needs of farming community, rural artisans and other rural mass. Krishna Grameena Bank is pioneer in promoting & extending financial assistance to Self Help Groups (SHGs). It offers home loan, personal loan, vehicle loan, agricultural loan, business loan etc.
Purpose – To purchase tractor+ trailor and agriculture equipments
Eligibility – Farmer should own 6 acres of perennial irrigated (12 months) or 15 acres of dry land.
Quantum of Loan – As per quotation of tractor+ trailor + agriculture implements
Disbursement – Directly to the dealer as per quotation enclosed
Security and Margin – Hypothecation of tractor+trailor+implements purchased out of bank finance. Equitable or registered mortgage of landed property offered as a security.
Margin – 10-15% of project cost.
Repayment – 18 half-yearly installments with a grace period of 11 months