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 aims at providing adequate and timely credit i.e. working capital or fixed assets or both to individuals.
Eligibility: Rural artisans, handloom weavers, service sector, self employed persons, rickshaw owners, other micro entrepreneurs, etc. are eligible for credit under this personal loan scheme.
Nature of Credit: The credit facility will be sanctioned as (a) term loan (for fixed assets) (b) cash credit (hypo) for working capital
Quantum of Loan: The maximum amount that is granted as loan under this loan scheme is Rs.50000/-.