For most people, the Vikas Siri Sampat-1111 scheme presents 5.7 p.c curiosity and 6.20 p.c for senior residents.

KVG Bank

The Karnataka Vikas Grameena Bank (KVGB), a Dharwad-based regional rural financial institution, has launched a 1,111-day deposit scheme.

While launching the ‘Vikas Siri Sampat-1111’ scheme in Dharwad on Friday, P Gopi Krishna, Chairman, mentioned the 1,111-day deposit provides 5.70 p.c curiosity to most people and 6.20 p.c to senior individuals. A minimal of ten thousand rupees and a most of two crore rupees could be positioned underneath the scheme.

Gopi Krishna suggested prospects to make the most of the improved rate of interest as a result of it is just out there for a short while.

The financial institution’s objective, he added, is to encourage individuals to avoid wasting, and he expects a strong response all through the present fiscal yr.

The financial institution has 629 branches within the Karnataka districts of Dharwad, Gadag, Haveri, Belagavi, Bagalkot, Vijayapura, Uttara Kannada, Udupi, and Dakshina Kannada.

During 2021-22, the financial institution’s total enterprise was Rs 30,750 crore. Deposits totalled Rs 17,647 crore, with advances totalling Rs 13,103 crore.

In the previous, Karnataka Vikas Grameen Bank (KVGB) had additionally launched an overdraft (OD) facility for the farmers. The farmers got the OD scheme depending on the estimated worth of the land. The most is ready at a restrict of 1.5 lakh for each acre of farming land and 1 lakh for each acre of dry land.

About Karnataka Vikas Grameen Bank (KVGB)

The Karnataka Vikas Grameena Bank, an Indian Regional Rural Bank sponsored by Canara Bank. It is underneath the possession of the Ministry of Finance, Government of India. The financial institution gives retail banking providers to rural customers and has 628 branches in areas of Karnataka, round North and Western Karnataka.


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