In 1976, the central government amalgamated Uttar Bihar Kshetriya Gramin Bank and Kosi Kshetriya Gramin Bank (transferor regional rural banks) sponsored by Central Bank of India in the state of Bihar into a single regional rural bank which began to be called as Uttar Bihar Gramin Bank with its head office at Muzaffarpur.
Now area of operation of Uttar Bihar Gramin Bank are the districts of Araria, Katihar, Kishanganj, Darbhanga, East Champaran, Gopalganj, Madhepura, Madhubani, Muzaffarpur, Purnea, Saharsa, Saran, Sheohar, Sitamarhi, Siwan, Supaul, West Champaran and Vaishali in the state of Bihar. Uttar Bihar Gramin Bank sponsored by Central Bank of India, is one of the largest regional rural bank in India in terms of branch network, staff strength and area.
Purpose: This loan is capital investment subsidy scheme for construction/ expansion/ modernization of cold storage and storage of horticulture produce.
Quantum of loan: There is a subsidy of 25% of unit cost subject to maximum Rs. 50,00,000 depending upon the capacity of the storage.
Eligibility: Partnership or proprietary firms, co-operatives, companies, agricultural produce marketing committee can avail this loan.
Rate of interest: Up to Rs. 2,00,000 the rate of interest is 12%. Above Rs.2 lakhs, the rate of interest is 1% + PLR of SBI or 4% above NABARD refinance rate which ever is higher.
Margin: Subsidy – 25% of unit cost subject to maximum Rs. 50,00,000.00 depending upon the capacity of the storage
Repayment: Repaymentperiod is 9 years including a grace period not exceeding 2 years.