Wainaganga Krishna Gramin Bank came in to existence on 15th December 2008 through amalgamation of Wainganga Kshetriya Gramin Bank, Chandrapur, Solapur Gramin Bank, Solapur and Ratnagiri-Sindhudurg Gramin Bank, Ratnagiri.
The authorized capital of the Bank is Rs. 500.00 lakhs and the paid up capital is Rs. 400.00 lakhs. Government of India, Government of Maharashtra and Bank of India has contributed 50 %, 15%, and 35% of the share capital respectively.
Purpose: This loan finances small & marginal farmers / sharecroppers / tenant cultivators to develop fallow/waste land for increasing production and productivity.
Eligibility: Small & marginal farmers / sharecroppers / tenant cultivators can avail this personal loan.
Margin: Up to loan of Rs. 50000/-, there is no margin and for loans above Rs. 50000/- the margin is 10%.
Repayment: The repayment of the loan has to be done within in 7-12 years including 24 months moratorium period.
Security: Mortgage of land to be purchased is taken as security.