Krishna Grameena Bank (KGB) is a Regional Rural Bank established on 01-12-1978 & is sponsored by State Bank of India.
The area of operation of the Bank comprises three districts viz., 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.
The Bank is one of the only 2 RRBs in India, selected by NABARD for implementation of SMART CARDS PILOT PROJECT, wherein Processor Cards are used by SHG members to know balances in their SB a/c s and to draw the money without bothering to Branch Manager/Rural Development Officer.
Purpose: This loan can be taken for any purpose or personal need.
Eligibility: The applicant should be existing customer of the bank.
Quantum of loan: The quantum of the loan depends on the quantity of the gold pledged to the bank. The disbursement of loan is done as soon as the loan is sanctioned. The amount of loan is disbursed at the rate of Rs. 450 per gram.
Repayment: The repayment has to be done with in 12 months after disbursal of loan.
Security: The gold ornaments pledged to the bank serves as the security.