Tag: Karnataka Vikas Grameena Bank

KVGB disburses ₹44.28 cr loan at outreach programme

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The Dharwad region of Karnataka Vikas Grameena Bank (KVGB) disbursed loans to the tune of ₹44.28 crore to nearly 725 beneficiaries under various heads at the customer outreach initiative organised under the aegis of state-level bankers’ committee (SLBC), according to P Gopi Krishna, Chairman of KVGB.

He said the customers outreach initiative was organised on Thursday to boost credit in retail, agriculture and MSME sectors.

Speaking on the occasion, B Chandrasekhar Rao, convenor of the SLBC, advised bankers to focus on agriculture lending and to ensure financial inclusion of all sections of society. He asked the small and medium scale entrepreneurs and citizens to utilise loan facilities offered by various banks, including regional rural banks. He handed over loan sanction letters to the borrowers of KVGB.

KVGB highlighted solar-powered livelihood solutions at the customer outreach initiative.

Ullas Gunaga, Chief Manager of KVGB, said the bank is financing the livelihood solutions backed by solar power. The intention is that these livelihood solutions will help micro and small entrepreneurs, economically weaker sections, and help in sustainable agriculture and women empowerment. He said the solar technology company SELCO provides technological interventions, market linkages, banking and financial inclusion support and training for capacity building.

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KVG Bank bags two PFRDA awards

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Our Bureau

Karnataka Vikas Grameena Bank (KVGB) sponsored by Canara Bank Bank has bagged two awards from Pension Fund Regulatory and Development Authority (PFRDA) for significant enrolment under Atal Pension Yojana (APY).

P Gopi Krishna, Chairman of KVGB, who received the awards from Supratim Bandopadhyay, Chairman of PFRDA in a summit at Chennai on Monday, said so far the bank has enrolled (cumulative) 2.30 lakh accounts under APY. During 2020-21, the bank enrolled 68,961 accounts against the target of 38,160, he said.

KVGB is playing a pivotal role in implementing all the three social security schemes (PMJJBY, PMSBY and APY) launched by Central government, he said.

KVGB has a business turnover of ₹28,410 crore with a clientele base of nearly 90 lakh in nine districts – Dharwad, Gadag, Haveri, Belagavi, Vijayapura, Bagalkot, Uttara Kannada, Udupi and Dakshina Kannada – of Karnataka.

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KVG Bank enrolls more than 4,000 APY accounts in a single day

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The Dharwad-headquartered Karnataka Vikas Grameena Bank (KVGB), a regional rural bank sponsored by Canara Bank, has enrolled (cumulative) 2,25,168 accounts under Atal Pension Yojana (APY), since the introduction of this scheme, according to P Gopi Krishna, Chairman of the bank.

APY is a safety net for workers in the informal sector for getting pre-defined pension after 60 years.

Gopi Krishna said that the bank’s Chikkodi regional office has set a new record by enrolling 4,125 accounts under APY in a single day.

The Chairman added that KVGB is playing a pivotal role in implementation of social security schemes such as APY, Prime Minister Jeevan Jyothi Bhima Yojana (PMJJBY), and the Prime Minister Suraksha Bhima Yojana (PMSBY).

It has enrolled 5,47,830 policies under PMJJBY and 12,28,320 policies under PMSBY. So far, the bank has settled nearly 4,000 claims (₹80 crore) under PMJJBY and nearly 800 claims (₹16 crore) under PMSBY.

“This has helped poor families to lead life in the event of sudden death of the caretaker,” Gopi Krishna said. “The bank firmly believes that delivery of financial services at an affordable cost to the vast sections of the disadvantaged and low-income groups is a national priority.”

The bank has 10 regional offices in its service area of nine districts including Dharwad, Gadag, Haveri, Belagavi, Vijayapura, Bagalkot, Uttara Kannada, Udupi and Dakshina Kannada.

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KVG Bank launches FRUITS portal

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The Dharwad-headquartered Karnataka Vikas Grameena Bank (KVGB), in association with the Karnataka government, has launched ‘Farmer Registration and Unified Beneficiary Information System’ (FRUITS) portal.

Inaugurating the portal in Dharwad on Monday, Niraj Kumar Verma, Chief General Manager of Nabard, said the FRUITS portal is the first of its kind in the country where in the land and other details of all the farmers in the State are being captured.

In this latest initiative by the Karnataka government, all the farmers will be registered and given a FRUITS ID (FID) number. Using this number, the financial and lending institutions can access the land details of farmers as well as their borrowings and take a quick decision on lending to them depending on their requirements, he said.

Appreciating KVGB for accepting the FRUITS pilot project, he hoped that all financial institutions will be on boarded to the portal soon so as to have a single data source of farmers. He thanked the Karnataka Department of e-Governance, and Canara Bank (sponsor bank of KVGB) for spearheading this initiative.

P Gopi Krishna, Chairman of KVGB, said that this being the latest initiative by the Karnataka government each farmer will be given a FRUITS ID comprising Aadhaar, land records and mobile number. A well organised and scrutinised farmer database will avoid farmers from running pillar to post for availing benefits, he said.

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KVG Bank inks pact with fintech platform

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Karnataka Vikas Grameena Bank (KVGB) has signed a memorandum of understanding with ‘Jai Kisan’ (a rural-focused fintech platform of Greenizon Agritech Consultancy Pvt Ltd) to expand access to financial services to individuals and businesses in Karnataka, including farmer and non-farmer entrepreneurs.

A press release said that P Gopikrishna, Chairman of KVGB, and Arjun Ahluwalia, founder and CEO of Jai Kisan, signed the MoU in Dharwad.

Gopikrishna said that the bank intends to extend its services to small and micro enterprises (SME), joint liability groups (JLG), self-help groups (SHG), and to farmers through Kisan Credit Card (KCC) and credit for farm mechanisation efforts through its partnership with Jai Kisan. This partnership will enable them to systemically increase reach and serve consumers and create grassroots level impact by extending low-cost credit to the rural ecosystem in nine districts’ service area. KVGB has jurisdiction over Dharwad, Gadag, Haveri, Bagalkot, Vijayapura, Belagavi, Uttara Kannada, Udupi, and Dakshina Kannada districts.

The release said that Jai Kisan would procure a diverse range of clients for KVGB and enable end-to-end operations and facilitation of credit and other financial services for customers via its technology capabilities.

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