Vidharbha Konkan Gramin Bank came into existence on 28th February, 2013 through amalgamation of erstwhile Wainganga Krishna Gramin Bank, Solapur and Vidharbha Kshetriya Gramin Bank, Akola, Maharashtra State.
The objectives of the Bank are to improve the economy of the rural, semi-urban/urban centers by providing financial and other support for agriculture, trade, commerce, industry and other productive activities through extension of timely and adequate credit and other facilities and create employment opportunities in the villages and small towns; inculcating the habit of savings amongst the rural poor through banking channels and complete the goal of Financial Inclusion as envisaged by Government of India and Reserve Bank of India.
The authorised capital of the Bank is Rs.1000 Lakhs and the paid up capital is Rs.700 Lakhs. Governments of India, Government of Maharashtra and Bank of India have contributed 50%, 15% and 35% shares respectively in the share capital of the Bank.
The area of operation of the Bank covers 17 districts of Maharashtra State viz. Chandrapur, Gadchiroli, Wardha, Bhandara, Gondia, Nagpur, Buldhana, Akola, Washim, Yavatmal, Amaravati, Solapur, Sangli, Satara, Kolhapur, Ratnagiri and Sindhudurg. The Bank is serving its cliental through 318 branches, 1 satellite and 84 Ultra Small Branches spread across the area of operation. All these branches are functioning on Core Banking Solution platform.
The Board of Directors comprises of nine directors. Besides Chairman from Sponsored Bank, there is one Nominee director each from RBI and NABARD, two Nominee directors each from Sponsor Bank, Government of Maharashtra and Central Government.