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How to Buy Crypto with Uttarbanga Kshetriya Gramin Bank in India

Last updated on November 12, 2023

Quick Summary: While Uttarbanga Kshetriya Gramin Bank does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of India cryptocurrency exchanges to pick from, but we suggest using the Binance.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

Uttarbanga Kshetriya Gramin Bank Homepage

As mentioned in my quick summary, like most India banks, Uttarbanga Kshetriya Gramin Bank doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a cryptocurrency exchange and comes with regulations and extra work for the banks.

Thankfully there are many cryptocurrency exchanges to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Next you’ll want to sign up to an exchange (for this short guide I’ll use Binance as it’s a global and widely used exchange) and deposit funds so you can start trading crypto.

How to buy crypto or bitcoin with Uttarbanga Kshetriya Gramin Bank

Let’s get started! Just follow our 4 quick steps.

1. Pick a crypto trading platform

As mentioned above, I’ll be using Binance for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With Binance

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For Binance there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy crypto

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Uttarbanga Kshetriya Gramin Bank.

Buy Crypto With Binance

About Uttarbanga Kshetriya Gramin Bank

Uttarbanga Kshetriya Gramin Bank, a Regional Rural Bank sponsored by Central Bank of India, was founded on 7th March 1977 in accordance with the provisions of Section 3(2) of the RRB Act 1976 [ 21 of 1976] and with the equity participation from Government of India (50%), Central Bank of India (35 percent) along with the Government of West Bengal (15 percent). The Bank is operating in five districts in West Bengal namely, Coochbehar, Jalpaiguri, Alipurduar, Darjeeling and Kalimpong with its head office located in Coochbehar.

Regional Rural Banks (RRBs) are state owned commercial banks scheduled to be scheduled by the government of India that operate at the regional level across different States of India. These banks are under management of the Ministry of Finance , Government of India. They were set up to supply rural communities by providing basic banking and financial services. But, they also have branches in urban areas.

The operation area is restricted to the areas announced by authorities of India which encompasses at least one district in the state. RRBs serve a variety of roles, like providing banking facilities to semi-urban and rural areas as well as carrying out government functions such as disbursement and distribution of wages to MGNREGA employees and distribution of pensions. They also provide the para-banking services like locker facilities debit and credit cards mobile banking, online banking as well as UPI services.

Regional Rural Banks were set up in accordance with an ordinance that was passed on the 26th of September, 1975 as well as the RRB Act 1976 to provide sufficient credit and banking services for rural and agricultural sectors.

The result was that five RRBs were created in October of 1975 based in accordance with the recommendations of Narsimhan Committee on Rural Credit under the administration of Indira Gandhi’s government. The goal was to bring rural regions into the mainstream of economics because approximately 70 percent of the Indian people lived in rural areas.