Malwa Gramin Bank- Dairy Development

By | April 14, 2011

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

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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