Nainital-Almora Kshetriya Gramin Bank (NAKGB) was established on 26th March, 1983. It is sponsored by Bank of Baroda. Presently the bank has over 58 branches across 4 districts of Uttarakhand, Udham Singh Nagar, Nainital, Bageshwar and Almora.
The bank aims to provide banking facilities in rural area and provide financial assistance particularly to small, marginal, landless labourers and other weaker sections. NAKGB is a joint venture of Government of India, Government of Uttarakhand and Bank of Baroda. NAKGB has its headquarters situated in Nainital.
Purpose: This loan scheme aims at providing adequate and timely credit for composite credit requirements of farmers with flexible and simplified procedure, adopting while farm approach, including the short term needs and reasonable component for consumption needs.
Nature of Loan: The credit facility under this scheme will be in the nature of revolving cash credit and term loan facility for agriculture and allied activities.
Quantum of Loan: The maximum amount granted as loan will be 50% at the value of land mortgaged as collateral security or Rs 8 lakhs whichever is less. This is subject to prevailing scale of finance that is defined by the bank.