Vidharbha Kshetriya Gramin Bank, sponsored by Central Bank of India, is established on 12/09/2005 as per GOI Notification No. F. No. 1 2)/2001/RRB dated 12/09/2005 amalgamating three RRBs working in Akola, Washim, Buldhana and Yavatmal district from 1983-84. The share proportion of this Bank is 50:15:35 from Govt. of India, Govt. of Maharashtra and Central Bank of India respectively.
This Bank is 100% computerized, and is in the process of migration to CBS platform very soon.
The bank has its corporate office at "Madhumalti Building", Gupte Road, Jatharpeth, Akola.
This bank is extending rthe services in five districts of Vidharbha Viz. Akola, Washim, Buldhana, Yavatmal and Amravati districts through its 96 branches having Two regional offices at district Head Quarters of Buldhana and Yavatmal.
The main objective of the establishment of the Bank is to bring overall economic development in rural area and to inculcate saving habits in rural masses. To help entire households in rural area and to organize their financial lives is to give them access to both (I) safe and convenient place to store and access their money and (ii) flexible loan products which enable them to access credit when they need it.
The thrust area of our Bank is to include all rural poor, totally into the formal Banking systems through financial inclusion.
The Bank has played vital role by implementing Central and State Government's Debt Relief and Debt Waiver scheme and extended releif to farmers who were distress.
Banking assistance to women under its area of operation through / linkages of Self Help Groups and literate them by arranging various trainings, workshops with the assistance of NABARD.
Bank is totally commited to rural prosperity.
Bank has introduced an attractive Fixed Deposit Scheme of "Gam Vikas Yojana" offering attractive interest rate with a view to encourage saving habist amongst rural clientels.
An Additional interest @0.50% p. a. for Senior Citizens above 60 years of age above the normal rate of interest on various fixed deposit scheme of the Bank.
To provide flexible, cost effective and easy credit facility the Bank has formulated / implemented various loan schemes to cater the need of all rural households including farmers.
Our Bank has opened 48414 no fril accounts as on 30-09-2009 and providing insurance cover (accidental) for Rs. 25000/- for two year to No-frill account holders and premium is borne by the bank.
Our Bank is Pioneer in the State of Financial Literacy - with the assistance of NABARD, comprehensive Financial Inclusion through financial literacy training by developing 300 source persons amongst leaders from
Farmers clubs, Self Help Groups, who will work as business facilitators, business correspondents to increase the coverage of people who are hitherto financially excluded.
Smart Cards - Bank has undertaken Smart Card project with Information Communication Technology Solution (ICTS) under NABARD guidance at our branches in Yavatmal district and in Buldhana district on pilot
basis covering 4-5 villages in each district with collaboration with M/s Source Trace Systems (India) Pvt. Ltd.
SHG - Bank Linkage : Our Bank has promoted as many as 18751 SHGs out of which 18160 have been linked as on Oct-2009 and secured Second Position in State of Maharashtra continuously for the last two years.
Farmers Clubs : Bank has formed 209 Farmers Clubs as on Oct-2009
Bancassurance : For all sorts of insurance requirement of the rural poor, our Bank has entered into MOU with Aviva Life Insurance Co. for life insurance product and with Bajaj Allianz for General Insurance (Non life).
CGTMSE : Being a Profit earnins RRB, our Bank is eligible lending institution for coverage under CGTMSE scheme for extending credit to micro and small enterprises.