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KVGB launches ‘Vikas Asha’ Loan Scheme for Women Entrepreneurs

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KVGB launches loan scheme 'Vikas Asha ’for women entrepreneursKarnataka Vikas Grameena Bank (KVGB) has launched the ‘Vikas Asha’ Loan Scheme, under which the bank will distribute loans of up to INR 10 Lakhs to Women Entrepreneurs.

  • The scheme is exclusively for women to meet their business-related needs, for purchasing machinery/equipment/vehicle.
  • It shall also be utilized for meeting the working capital requirements under Micro and Small Enterprises including retail trade.

Repayment Period

The repayment period of the loan will be 84 months.

Benefits

The loans will help in boosting the women entrepreneur’s contribution to the National economy.

Karnataka Vikas Grameena Bank (KVGB) 

  • It was established in 2005 and is sponsored by Syndicate Bank (Syndicate Bank was amalgamated into Canara Bank w.e.f 1st April 2020)
  • It operates in 9 districts of Karnataka

Fact

  • The First Regional Rural Bank  (RRB) of India was ‘Prathama Bank’ sponsored by Syndicate Bank.
  • Regional Rural Banks are regulated by RBI and supervised by National Bank for Agriculture and Rural Development (NABARD).

Recent Related News:

i.On December 5, 2020 Karnataka Vikas Grameena Bank (KVGB) launched ‘Kirishi OD(Overdraft) scheme’ for farmers.

About Karnataka Vikas Grameena Bank (KVGB):
Chairman – Gopi Krishna
Headquarters – Dharwad, Karnataka