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: It is a scheme for general public which gives loan against the gold ornaments.
Eligibility: Any individual with sufficient income to repay the loan can avail this loan by pledging gold ornaments.
Quantum of Loan: The present card rate in view of the rise in the prices of gold limit has been enhanced to Rs 10,000/- for 22 carat purity of gold ornaments and Rs.10,500/- for 24 carat purity gold ornaments per 10 grams.
Security: Gold ornaments pledged to the bank forms the security for this personal loan.