Nainital Almora Kshetriya Gramin Bank

About

Nainital Almora Kshetriya Gramin Bank Sponsored by Bank of Baroda was established on 26th March, 1983. The area of operation of the Bank is Nainital, Almora, Bageshwar and Udham Singh Nagar districts. The main objective behind establishment of the Bank was to provide banking facilities in rural area and provide financial assistance particularly to small, marginal farmers, landless laborers and other weaker sections.

Nainital Almora Kshetriya Gramin Bank comes under scheduled Bank included in 2nd schedule of Reserve Bank of India Act, 1934 and is authorised to do banking business defined in Section 6 in Banking Regulation Act. Like other banks customers' deposits are insured as per rules by Deposit Insurance & Credit Guarantee Corporation.

The Bank's authorised capital is Rs. 5 Crores and the paid up capital is Rs. 1 crore contributed by Govt. of India, Bank of Baroda and Govt. of Uttarakhand. Our Bank was selected in 1995-96 for revamping in phase II and we have received an equity support of Rs.10,12,92,800/- from Govt. of India, Bank of Baroda and Govt. of Uttarakhand in the proportion of 50:35:15 respectively. Our reserves have increased to Rs. 44.45 crores as at the end of the year.