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Vikas Spoorty, a new loan scheme, has been launched by Karnataka Vikas Grameena Bank

Published on March 07, 2024
Current Context: The Karnataka Vikas Grameena Bank (KVGB) has indeed launched a new loan scheme called ‘Vikas Spoorty’ on 7th March 2024.
Vikas Spoorty, a new loan scheme, has been launched by Karnataka Vikas Grameena Bank (KVGB)
  • This scheme is designed to strengthen the rural credit delivery system and motivate the common man to take up income-generating activities on a small scale.
  • The ‘Vikas Spoorty’ loan scheme offers hassle-free credit without the need for collateral security or surety.
  • It is aimed at meeting the genuine credit needs of small entrepreneurs.
  • The scheme links the repayment of the loan to the small amounts contributed by the borrowers daily to their ‘Daily Deposit’ scheme of the bank (Pigmy account) at their doorsteps.
  • Under this scheme, people may avail a minimum loan of ₹50,000 and a maximum of ₹2,00,000.
  • The customers who intend to take up income-generating activities such as manufacturing, retail trade, small business, artisan activity, farm activities, etc., will be considered for extending need-based credit.
  • But the customer shall open a ‘Daily Deposit’ (pigmy) account and contribute regularly to it to service the repayment of instalment and interest for the loan.


Q.1 What is the maximum loan amount that can be availed under the ‘Vikas Spoorty’ scheme?
a. ₹1,00,000
b. ₹4,00,000
c. ₹3,00,000
d. ₹2,00,000
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