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 finances setting up of new well, bore-well, SIP set, IP set, DP set, pipe line, sprinkler and drip irrigation etc.
Eligibility: Any farmer with a minimum of 3 acres of land in their ownership can obtain this loan.
Quantum of loan: The amount granted as loan depends on the cost as fixed by the NABARD, unlike other personal loan.
Margin: The margin may vary from 10% to 25% depending on the cost of scheme.
Repayment: The maximum period of repayment varies from 10 to 15 depending on the scheme.
Security: For a loan up to Rs. 50,000/- the hypothecation of the land alone is required with the loan application. In case of loans above this suitable/registered mortgage of landed property is also required.
Documents Required: The quotation of the IP set, DP set, pipe line, sprinkler, etc. needs to be submitted with the loan application.