The Karnataka Vikas Grameena Bank (KVGB) has launched ATM-cum-debit card and the Kisan credit card on the RuPay platform. SyndicateBank Chairman and Managing Director Sudhir Kumar Jain launched the new facility at a function here on Monday. Speaking to presspersons, Mr. Jain said the KVGB, which was one of the Regional Rural Banks (RRBs) sponsored by SyndicateBank, was making progress in adopting customer-friendly technology. The bank would set up automated teller machines (ATMs) at 75 places during the current financial year, he said. The bank had a total business of Rs. 13,015 crore as on March 31, 2013, while its net profit stood at Rs. 194.58 crore, with a 52.45 per cent year-on-year growth — the highest recorded in the history of RRBs. The KVGB had set the target of achieving 20 per cent growth in deposits and 25 per cent in advances during the current fiscal, said Mr. Jain. Of the four RRBs sponsored by SyndicateBank, the KVGB stood second in the country in terms of business. It was number one in south India among all RRBs, observed Mr. Jain. On the merger of RRBs, Mr. Jain said that as per the directions of the Centre, the parent banks running RRBs could merge them only within the State. SyndicateBank was running RRBs located in different States. Hence, they would not be merged, he said.
Posted on: Thu, 05 Sep 2013 09:27:01 +0000
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