Karnataka Vikas Grameena Bank
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The Karnataka Vikas Grameena Bank (KVGB), an Indian
Regional Rural Bank Regional Rural Banks (RRBs) are government owned scheduled commercial banks of India that operate at regional level in different states of India. These banks are under the ownership of Ministry of Finance , Government of India. They were creat ...
sponsored by
Canara Bank Canara Bank is an Indian public sector bank under the control and ownership of Ministry of Finance, Government of India. Established in 1906 at Mangalore by Ammembal Subba Rao Pai, the bank also has offices in London, Dubai and New York. Hist ...
. It is under the
ownership Ownership is the state or fact of legal possession and control over property, which may be any asset, tangible or intangible. Ownership can involve multiple rights, collectively referred to as title, which may be separated and held by different ...
of
Ministry of Finance A ministry of finance is a part of the government in most countries that is responsible for matters related to the finance. Lists of current ministries of finance Named "Ministry" * Ministry of Finance (Afghanistan) * Ministry of Finance and Eco ...
,
Government of India The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, c ...
. The bank provides
retail banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking servi ...
services to rural users and has 629 branches in areas of
Karnataka Karnataka (; ISO: , , also known as Karunāḍu) is a state in the southwestern region of India. It was formed on 1 November 1956, with the passage of the States Reorganisation Act. Originally known as Mysore State , it was renamed ''Karnat ...
, around North and Western
Karnataka Karnataka (; ISO: , , also known as Karunāḍu) is a state in the southwestern region of India. It was formed on 1 November 1956, with the passage of the States Reorganisation Act. Originally known as Mysore State , it was renamed ''Karnat ...
.


History

The bank was constituted on 12 September 2005 after amalgamation of four Regional Rural Banks (RRBs) namely Malaprabha Grameena Bank, Bijapur(Vijayapura) Grameena Bank, Varada Grameena Bank and Netravathi Grameena Banks as per recommendations of the Narasimhan Committee under
Government of India The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, c ...
Notification dated 12 September 2005. All four amalgamated RRBs were sponsored by
Syndicate Bank Syndicate Bank was one of the oldest and major commercial banks of India. It was founded by Upendra Ananth Pai, T. M. A. Pai and Vaman Srinivas Kudva. At the time of its establishment, the bank was known as Canara Industrial and Banking Syndic ...
(Now
Canara Bank Canara Bank is an Indian public sector bank under the control and ownership of Ministry of Finance, Government of India. Established in 1906 at Mangalore by Ammembal Subba Rao Pai, the bank also has offices in London, Dubai and New York. Hist ...
) and were located in
Karnataka Karnataka (; ISO: , , also known as Karunāḍu) is a state in the southwestern region of India. It was formed on 1 November 1956, with the passage of the States Reorganisation Act. Originally known as Mysore State , it was renamed ''Karnat ...
. After amalgamation in 2005, the level of the bank’s business was around 23263.73
Crore A crore (; abbreviated cr) denotes ten million (10,000,000 or 107 in scientific notation) and is equal to 100 lakh in the Indian numbering system. It is written as 1,00,00,000 with the local 2,2,3 style of digit group separators (one lakh is e ...
. After the merger, the RRB was named Karnataka Vikas Grameena Bank with its head office at
Dharwad Dharwad (), also known as Dharwar, is a city located in the north western part of the Indian state of Karnataka. It is the headquarters of the Dharwad district of Karnataka and forms a contiguous urban area with the city of Hubballi. It was merge ...
under the sponsorship of
Syndicate Bank Syndicate Bank was one of the oldest and major commercial banks of India. It was founded by Upendra Ananth Pai, T. M. A. Pai and Vaman Srinivas Kudva. At the time of its establishment, the bank was known as Canara Industrial and Banking Syndic ...
. Shreekant M Bhandiwad, Deputy General Manager of Canara Bank, took charge as the new
Chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...
of Karnataka Vikas Grameena Bank (KVGB), a
Dharwad Dharwad (), also known as Dharwar, is a city located in the north western part of the Indian state of Karnataka. It is the headquarters of the Dharwad district of Karnataka and forms a contiguous urban area with the city of Hubballi. It was merge ...
-headquartered
Regional Rural Bank Regional Rural Banks (RRBs) are government owned scheduled commercial banks of India that operate at regional level in different states of India. These banks are under the ownership of Ministry of Finance , Government of India. They were creat ...
, on April 24, 2023. Prior to his joining as Chairman of KVGB, Bhandiwad headed the Patna circle of Canara Bank. He was the Deputy Managing Director of Canfin Homes Ltd for a period of three years. Karnataka Vikas Grameena Bank was established on 12th Sept 2005, by a Govt. of India Notification, Amalgamating four Regional Rural Banks sponsored by Syndicate Bank in the state of Karnataka. The amalgamated erstwhile Grameena Banks are Bijapur Grameena Bank, Malaprabha Grameena Bank, Netravati Grameena Bank and Varada Grameena Bank. For operational convenience, bank has set up TEN Regional Offices at Bagalkot, Belgaum, Bijapur (Vijayapur), Chikkodi, Dharwad, Gadag, Gokak Haveri, Kumta (Uttar Kannada) & Mangaluru (Dakshin Kannada). Bank is operating in almost 1/3rd of the geographical area of Karnataka state consisting of 6 districts of northern Karnataka and 3 districts of coastal Karnataka. The 6 northern districts are Bagalkot, Belagavi, Bijapur (Vijayapur), Dharwad, Gadag and 3 coastal districts are Mangaluru, Udupi and Uttar Kannada. The total business of the Bank stands at Rs. 26269 Crore as on 31.03.2020 , consisting of Rs. 15178 Crores deposits and Advances of Rs. 11090 Crores and has Reserves of Rs. 1139 Crores.


Area of operations

Head Office of the Bank is situated at
Dharwad Dharwad (), also known as Dharwar, is a city located in the north western part of the Indian state of Karnataka. It is the headquarters of the Dharwad district of Karnataka and forms a contiguous urban area with the city of Hubballi. It was merge ...
, located in the state of
Karnataka Karnataka (; ISO: , , also known as Karunāḍu) is a state in the southwestern region of India. It was formed on 1 November 1956, with the passage of the States Reorganisation Act. Originally known as Mysore State , it was renamed ''Karnat ...
. The bank is currently operating in 9 districts in the State which are:- *
Bagalkote Bagalakote, is a city in the state of Karnataka, India, which is also the headquarters of Bagalakote district. It is situated on branch of River Ghataprabha about 481 km (299 mi) northwest of state capital Bengaluru, 410 km ( ...
*
Belagavi Belgaum (ISO: ''Bēḷagāma''; also Belgaon and officially known as Belagavi) is a city in the Indian state of Karnataka located in its northern part along the Western Ghats. It is the administrative headquarters of the eponymous Belagavi ...
*
Vijayapura Vijayapur is a town in Devanahalli taluk and Bangalore Rural district in the Indian state of Karnataka. Vijayapura's old name is Vadigenahalli. Local villagers still refer Vijayapura as Vadigenahalli. Geography Vijayapura is located at . It has ...
(Bijapura) *
Dakshina Kannada Dakshina Kannada district is a district of Karnataka state in India, with its headquarters in the coastal city of Mangalore. It is part of the larger Tulu Nadu region. The district covers an area nestled in between the Western Ghats to its east ...
*
Dharwad Dharwad (), also known as Dharwar, is a city located in the north western part of the Indian state of Karnataka. It is the headquarters of the Dharwad district of Karnataka and forms a contiguous urban area with the city of Hubballi. It was merge ...
*
Gadag Gadag-Betageri is a city municipal council in Gadag district in the state of Karnataka, India. It is the administrative headquarters of Gadag District. The original city of Gadag and its sister city Betageri (or ''Betgeri'') have a combined cit ...
*
Haveri Haveri is a city in Karnataka, India. It is the administrative headquarters of Haveri district. Haveri is famous for its cardamom garlands and Byadagi red chillies. Around 25 km away, there is a place called Bada, which is the birthplace ...
*
Udupi Udupi (alternate spelling Udipi; also known as Odipu) is a city in the Indian state of Karnataka. Udupi is situated about north of the educational, commercial and industrial hub of Mangalore and about west of state capital Bangalore by road. ...
*
Uttara kannada Uttara Kannada is a district in the Indian state of Karnataka. Uttara Kannada District is a major coastal district of Karnataka, and currently holding the title of the largest district in Karnataka. It is bordered by the state of Goa and Bela ...


Products and services


SAVING ACCOUNTS

* SAVINGS ACCOUNT


DEPOSIT SCHEMES

* VIKAS SANCHAYANI PLUS * VIKAS SANTUSTI DEPOSIT SCHEME WITH OVERDRAFT FACILITY * VIKAS BONANZA 456 * AKSHAYA CASH CERTIFICATE * NIRANTARA DAILY DEPOSIT SCHEME * VIKAS TAX ULITAYA - Tax Saving Fixed Deposit


LOAN PRODUCTS

* VIKAS GRIHA - Vehicle Loan To General Public * VIKAS ADHAR - Mortgage Loan * VIKAS KISAN CREDIT CARD * AGRI TOURISM * VIKAS SAATHI - Mobile Van For Dealers & Traders * MODEL DAIRY UNIT * VIKAS GRIHALANKAR - Interior Decoration of Residential House * FINANCING TO LANDSCAPE WORK * VIKAS GRIHA FLEXI - Housing Loan Overdraft Facility * DRIP IRRIGATION FACILITY * VIKAS VAHAN - Vehicle Loans For All * VIKAS SARALA SANJEEVINI - OD Facility To Doctors * VIKAS MITRA SCHEME - Vehicle Loan To Milk Vendors & Others * VIKAS ANNAPOORNA - For Hotel & Restaurants * VIKAS NIRANTARA – DL on Pigmy * VIKAS SUVARNA – Jewel Loan Scheme * VIKAS KIRAN – Solar Home Lighting & Water Heating Systems loans


See also

*
Banking in India Modern banking in India originated in the mid of 18th century. Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829–32; and the General Bank of India, established in 1786 but failed in 1791. ...
*
List of banks in India This is the list of banks which are listed as Scheduled Banks (India) under second schedule of RBI Act, 1934. Commercial banks Public Sector Banks (PSBs) There are 12 public sector banks as of 15 November 2021 Private-sector banks A ...
*
Reserve Bank of India The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for ...
*
Regional Rural Bank Regional Rural Banks (RRBs) are government owned scheduled commercial banks of India that operate at regional level in different states of India. These banks are under the ownership of Ministry of Finance , Government of India. They were creat ...
*
Indian Financial System Code The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: th ...
*
List of largest banks The following are lists of the largest banks in the world, as measured by total assets. By total assets The list is based on the April 2022 S&P Global Market Intelligence report of the 100 largest banks in the world. The ranking was based upon a ...
*
List of companies of India India is a country in South Asia. It is the seventh-largest country by area, the second-most populous country (with over 1.2 billion people), and the most populous democracy in the world. In 2019, the Indian economy was the world's fifth ...
*
Make in India Make in India is an initiative by the Government of India to create and encourage companies to develop, manufacture and assemble products made in India and incentivize dedicated investments into manufacturing. The policy approach was to creat ...


References

{{Canara Bank Regional rural banks of India Banks based in Karnataka 2005 establishments in Karnataka Banks established in 2005 Indian companies established in 2005