Malwa Gramin Bank is a project of State Bank of Patiala. The Bank was established on 27th Feb 1986. It is 100 % computerised on CBS platform. At present the Bank is operating in 371 villages with 53 branches and is operating in 5 Districts of Punjab.
The Bank has achieved tremendous growth in business during the year 2010-11. In bank’s deposits grew to the level of Rs. 563.84 crore with a net increase of Rs. 52.11 crore over 2009-10. The advances of the Bank grew to the tune of Rs. 471.62 crore, a net increase of Rs. 61.18 crore over 2009-10. The bank is mainly involved in offering help to the farmers in the rural areas and it offers home loan, personal loan, festival loans etc.
Purpose – The main purpose of the scheme is to purchase high quality breed cattle with more yielding capacity. It also aims to purchase the modern machinery for diary development and improve the profitability.
Eligibility – All the Farmers (Kisans) with good Track Record with Bank and with the experience in dairy field
Loan Limit – Loan amount is decided according to the units of the Dairy
Security – Charge (hypothecation) on cattle by the Bank, Mortgage the 200% of the land of the loan amount.
Interest – 11.5% for loans up to 2 Lakh, 13.0% for loans more than Rs. 200000/-
Repayment – In 5 years in equal monthly installments