Rushikulya Gramya Bank, the first of three Regional Rural Banks sponsored by Andhra Bank was established on 14th day of February, 1981 under provision of Section 3 of the Regional Rural Bank Act, 1976 with its Head Office at Berhampur (Ganjam), Orissa.
As a Scheduled Commercial Bank, it is authorized to conduct all types of banking activities under Section-5B of the Banking Regulation Act 1949. The Bank has been vigorously pursuing its social objective and is committed to serve the economically backward people, agriculturists, rural women and small business entrepreneurs for the all round development of Ganjam & Gajapati District. The bank offers home loan, personal loan, agricultural loan, business loan etc.
Purpose – To offer loan for the purchase of two wheelers
Eligibility – All farmers below the age limit of 55 years with valid driving license are eligible and women farmers are also eligible for purchase of two wheelers.
Quantum of Loan – The total limit of Kisan Yana should not exceed Rs 50000/ and collateral security not to be insisted; if the limit exceeds Rs 50000/ collateral security 150% of the loan amount is insisted.
Repayment – The loan should be repayable in 10 half yearly installments and 25% margin should be maintained.