Home Mortgage loan KVGB launches emergency loan facility for farmers

KVGB launches emergency loan facility for farmers


Karnataka Vikas Grameen Bank (KVGB), headquartered in Dharwad, has launched an emergency loan facility for farmers.

Quoting Gopi Krishna, chairman of KVGB, a press release from the bank said on Wednesday that the loan facility will be for existing farmers who have been regular since February 29. A maximum loan of 50,000 yen will be granted to deal with unforeseen events. expenses. It is repayable within three years.

He said Covid-19 has also affected farmers and the informal sector workforce. As a result, farmers with small, marginal farms face a financial crisis. To meet the emergency needs for agriculture and domestic purposes, the bank offered this loan facility. He appealed to the farming community to contact their nearby KVGB branches for this loan facility.

For eligible customers

He said customers can contact the bank’s helpline 9108699803 between 10:00 a.m. and 5:00 p.m. for any clarification regarding the loan facility. The main intention of launching the helpline is to ensure that no eligible client, especially farmers, are denied a loan facility during these difficult times.

Gopi Krishna also urged the public to contact the relevant KVGB agency before contacting the support number.

He said the bank issued 2,00,653 KCC (Kisan credit cards) to farmers and disbursed ₹ 3,299 crore in 2019-2020. The bank has set a target of disbursing 3,700 crore in the form of agricultural credit during the period 2020-2021.

He urged the farmers to contact their neighboring KVGB branches to obtain new crop loans under the KCC facility and also to renew their existing crop loans.

Stating that all branches of the bank will re-establish hours of operation from 10:00 a.m. to 5:00 p.m. with adequate staff, he said the branches have been instructed to step up lending and ensure sufficient credit exemption for all sectors.