Vidharbha Kshetriya Gramin Bank, sponsored by Central Bank of India, is established on 12/09/2005 as per GOI Notification No. F. No. 1 2)/2001/RRB dated 12/09/2005 amalgamating three RRBs working in Akola, Washim, Buldhana and Yavatmal district from 1983-84.
The Bank has played vital role by implementing Central and State Government’s Debt Relief and Debt Waiver scheme and extended relief to farmers who were distress.
Banking assistance to women under its area of operation through / linkages of Self Help Groups and literate them by arranging various trainings, workshops with the assistance of NABARD.
PURPOSE – To facilitate the customers in rural & semi urban areas with hassle fee credit based on the assessment of cash flow without insistence on security, purpose or end use of the credit.
ELIGIBILTY – Such people, who are engaged in agriculture, business or self employment etc
QUANTUM OF LOAN – Rs.25, 000/-
MARGIN – NIL
RATE OF INTEREST – 12% per annum
REPAYMENT – This is in the nature of overdraft or cash credit with no end use verification stipulation. The limit may be reviewed annually and revised or cancelled depending upon track record of the account holder unlike other personal loan.