Introduction of Rushikulya Gramya Bank.docx

8/12/2019 Introduction of Rushikulya Gramya Bank.docx

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INTRODUCTION OF RUSHIKULYA GRAMYA BANKBerhampur (Orissa), Feb 15: Rushikulya Gramya Bank (RGB) has become the

first regional rural bank (RRB) in Orissa with full core banking solution. There are

five RRBs functioning in the state. All the 81 branches of RGB located in Ganjam

(71) and Gajapati (10) districts were migrated to CBS coinciding with thefoundation day of the Berhampur-based bank, which turned 31. Our bank is the

first RRB in Orissa to implement full CBS facility, much before the stipulated timedirected by the Reserve Bank of India (RBI), its Chairman, Mr PVSTR, Seshagiri

Rao, said. The Centre had directed RRBs in the country to implement CBS before

the end of September 2011. With technical support from Andhra Bank, which is

our sponsor bank, we have been able to migrate to CBS all the branches includingthose located in remote areas in a period of two months, he said.

CBS was introduced first at the Gate Bazar branch here on December 18 last year.

The volume of business of the bank is expected to be increased following theintroduction of CBS, Mr Rao said, adding that it also planned to issue debit cards

to its customers. RGB would explore utilising the ATMs of its sponsor bank toallow customers withdraw money from anywhere in the country, he added.

SMALL BUSINESS FINANCE

Swarojgar Credit CardOverview Swarojgar Credit Card Scheme (SCC Scheme) was introduced inSeptember 2003 consequent upon the announcement made by Hon'ble Prime

Minister in his Independent Day Speech on 15 August 2003. Objective

SCC Scheme aims at providing adequate and timely credit ie. working capitalor block capital or both to small artisans, handloom weavers, service sector

personnel, fishermen, self employed persons, rickshaw owners, other micro-entrepreneures, SHGs, etc., from the banking system in a flexible, hassle free

and cost effective manner.

Borrowers in urban areas can also be covered under SCC Scheme. Smallbusiness covered under priority sector is also eligible under SCC Scheme.

Any scheme/project that is income generating/ employment generating may becovered under the scheme. The facility may also include a reasonablecomponent for consumption needs.

Farm sector activities like fisheries, dairy, etc., can also be covered under thescheme. Generally such of the self-employment activities which have regular

turn-over/income stream on short-interval basis can be covered under SCCscheme.


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SCC is a credit delivery mode and not a purpose. Coverage of SCC will not make a

unit ineligible for subsidy. Banks can issue SCCs to target borrowers of SCCscheme for disbursing credit under any scheme whether it is covered under subsidy

or not.

Artisans Credit CardTo meet credit requirement of ArtisansBoth Investment needs as well as

working capital

Purpose:

To provide adequate and timely assistance to the artisans to meet their creditrequirements both investments needs as well as working capital in a flexible and

cost effective manner.

Eligibility:

1. All artisans involved in production / manufacturing process would be

eligible.2. Preference would be given to artisans registered with DevelopmentCommissioner (Handicrafts).

3. Thrust in financing would be on clusters of artisans and artisans who havejoined to form Self Help Groups (SHGs), Joint Liability Groups (JLGs).

4. All new units and all existing borrowers enjoying credit facilities uptoRs.2.00 lakhs and having satisfactory dealings with the bank.

Nature of Facility:

Cash Credit Limit / Term loan

Quantum of Finance:

The credit limit would be fixed based on assessment of working capitalrequirements (20% of anticipated turnover) as well as cost of tools and equipmentsfor manufacturing process. Maximum limit both Cash Credit and Term Loan taken

together is Rs.2.00 lakhs.

Rate of Interest:

Floating rate. Aligned with rate of interest applicable on Micro Enterprise(Manufacturing) communicated from time to time.

Margin:

1.No margin up to overall credit limit upto Rs.25000/-.

2. Beyond Rs.25000/-25%.Repayment:1. Cash Credit: Payable on demand. This facility is subject to annual review.

The interest is to be serviced as and when charged.

2. For Term loan component 36 to 60 months depending upon projectedaverage DSCR of preferably 1.5 but not below 1.20.


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Security:

Primary Security: The assets financed would be hypothecated and necessarydocuments evidencing charge thereon should be obtained as per norms

No need of collateral security.

Processing Charge:

1. Working Capital- Nil.2. Term Loan

1. Upto Rs 25000 - Nil.2. Above Rs 25000 - 1% of the Term Loan.

Appraisal of the credit facility under the scheme will be subjected to usual

procedures prescribed in the lending policy of the Bank and other credit related

circulars/manuals.

Credit Guarantee Cover:

The credit facility sanctioned under the scheme is subject to credit guarantee

coverage under CGTMSE.Please contact your nearest BGVB branch for further information.Terms & conditions apply.

GENERAL CREDIT CARD

OBJECTIVE

General Credit Card Scheme has been introduced as an important measure in thearea of Financial Inclusion.

To provide hassle free credit to Rural and Semi-urban households withoutinsistence on security, purpose or end use of the credit.

PURPOSELoan can be sanctioned for any general purpose including that of consumption.

ELIGIBILITYAll Rural / Semi-urban households are eligible irrespective of their activity,

NORMSwhether agricultural or non agricultural and income level.

LOAN QUANTUMLoan quantum shall be 50 % of the net annual income of the entire household.

Maximum of Rs. 25000/-

MARGIN

No margin shall be insisted.TENABILITY

Limit extended is of overdraft nature tenable for three years.


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RETAIL TRADERS AND SMALL BUSINESS FINANCE

Krishna Grameena Bank (KGB) is a Regional Rural Bank established in terms of

provisions of Regional Rural Banks Act 1976 & is sponsored by State Bank of

India. The shareholders of the Bank are Government of India (50%), State Bank of

India (35%) and Government of Karnataka (15 %). The Bank is established on 01-

12-1978. The area of operation of the Bank comprises three districts namely

Gulbarga, Bidar and Yadgir. The present Branch network is 119, of which 94

branches functioning in rural area, catering to the needs of farming community,

rural artisans and other rural mass. Krishna Grameena Bank is pioneer in

promoting & extending financial assistance to Self Help Groups (SHGs). It offers

home loan,personal loan,vehicle loan, agricultural loan, business loan etc.

INTEGRATED HANDLOOMS DEVELOPMENT SCHEME (IHDS)

A CENTRALLY SPONSORED PLAN SCHEMEIntegrated Handlooms Development Scheme (IHDS) to be implemented during theXI Plan has been formulated as a Centrally Sponsored Plan Scheme by merging the

essential components, with or without modifications, of the four schemes i.e. DeenDayal Hathkargha Protsahan Yojana (DDHPY), Integrated Handloom Training

Project (IHTP), Integrated Handloom Cluster Development Scheme (IHCDS) andWorkshed-cum-Housing Scheme, implemented during the 10th Plan.OBJECTIVES OF THE SCHEME

To focus on formation of handloom weavers groups as a visible production

group in a selected handloom clusters, To assist the handloom WeaversGroups for becoming selfsustainable,

An inclusive approach to cover weavers both within and outside the Co-operative fold,

To up-grade the skills of handloom weavers/workers to produce diversifiedproducts with improved quality to meet the market requirements,

To provide suitable workplace to weavers to enable them to produce qualityproducts with improved productivity,

Market orientation by associating entrepreneurs, designers and professionalsfor marketing, designing and managing the production,

To facilitate process of credit from financial institutions/banks. To encourage co-operativisation of weavers Holistic and flexible interventions to provide need based inputs specific to

each cluster/group,
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SMALL ROAD TRANSPORT OPERATORS (SRTO)

Purpose

To meet expenditure towards cost of chassis, body building, initial

taxes/ insurance and working capital. Second-hand vehicles are not

eligible for assistanceEligible

Borrowers

Small road transport operators

Norms Loan limit - Need based

(20 vehicles per operator including existing vehicles)

SCHEME FOR ADVANCES TO SMALL ROAD TRANSPORT

OPERATORS ( NEW VEHICLES ONLY)

The earlier circular issued on the transport operators are more than twodecade old and there after ourloan policy, definition of SRTO and CGTMSE coverage availability haveundergone various changes. In order to obviate cross-references, we haveconsolidated the guidelines on the captioned Scheme as given hereunderand the sanctioning authorities are advised to meticulously comply withthe same.Objective:

To assist transport operators, existing as well as new entrants, and to createemployment opportunities for the borrowers.

Eligibility:

An individual or an association desirous of owning new transport vehicle(s), for

carrying passengers or goods on hire. The borrower (s) hold the necessary driving license or engage driver (s)

possessing valid license to operate the type of vehicle for which credit issought.

The borrower should submit proof for permanent residential address. The borrower (s) should have been granted a permit by an appropriate

authority to ply vehicle (s) for passengers or goods traffic for hire. The borrower(s) should be well experienced and have the aptitude in the

profession. Transport operators owning one or more trucks/buses are also eligible.

However in case of proposals for more than one vehicle anticipated cashflow statement should also be taken into account.


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14.38%. The Net profit after the deduction of tax increased to 12.91% when

compared with the last year Net profit. It recently opened three branches inNeelakanthanagar, Ganjam and Randha. The Bank holds a clientele of 7.01 lakhwhen updated on March 2012.

The job opportunities of Rushikulya Gramya Bank recruitment process takes placethrough CWE (Common Written Exam) taken through IBPS in which the

candidates needs to score the minimum passing marks to clear the other levels of

selection. The various posts offered for job are Deputed Officers from SponsorBank Officer MMIII, Officers MM II, OfficersJM I, and Clerks. The bank

provides induction training for all the recently appointed staff and the promotedstaff from clerical team. It also makes arrangements to provide training to offices.

The candidate needs to download the application form from the official website of

Rushikulya Gramya Bank rgb.net.in. it is important for the candidate to haveproficiency in the local language. It is mandatory for the client to fill in the

essential details in the form and attach the necessary documents. Candidates cankeep a check on the official website of the bank to attain information regarding theexamination schedule, call letters and interview scheme.

Introduction of Rushikulya Gramya Bank.docx

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