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Karur Vysya Bank is a Scheduled Commercial Bank in India. It has completed 100 years of operation and is one of the leading banks in India, headquartered in
Karur Karur () is a city in the Indian state of Tamil Nadu. Karur is the administrative headquarters of Karur district. It is located on the banks of Amaravathi River, River Amaravathi, Kaveri and Noyyal. Karur is well known for the export of Home Te ...
in
Tamil Nadu Tamil Nadu (; , TN) is a state in southern India. It is the tenth largest Indian state by area and the sixth largest by population. Its capital and largest city is Chennai. Tamil Nadu is the home of the Tamil people, whose Tamil language ...
. It was set up in 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar. The bank primarily operates in treasury, corporate/wholesale banking and retail banking segments. KVB provides services such as personal, corporate, agricultural banking and services to NRIs and
MSME Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank ...
. Under personal banking, the bank provides housing loan, personal loan; insurance; and fixed deposits among others. Under corporate banking, KVB provides services like corporate loans; demat account, multicity current account and general insurance among others. Schemes provided by KVB under agricultural banking include Green Harvester, Green Trac and KVB Happy Kisan among others. Under MSME, the bank provides products such as KVB MSME Cash, KVB MSME Term Loan, KVB MSME Vendor Bill Discounting and KVB MSME Standby Term Loan among others. The bank had added more branches and 10 ATMs during the year thus bringing the total to 798 branches and 1,780+ ATMs as on 1 July 2018. It introduced a number of initiatives in FY16 like reloadable cards, kisan credit cards, automatic passbook kiosk, e-book, etc. The latest being introduction of fast tag and UPI based payment system. Total business volume is 1,25,000+ crore as of 31st March 2022.


History

The Karur Vysya Bank Limited, popularly known as KVB was set up on 25 July 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar, to capitalise on the previously unexploited market of traders and agriculturists in and around
Karur Karur () is a city in the Indian state of Tamil Nadu. Karur is the administrative headquarters of Karur district. It is located on the banks of Amaravathi River, River Amaravathi, Kaveri and Noyyal. Karur is well known for the export of Home Te ...
, a town in
Tamil Nadu Tamil Nadu (; , TN) is a state in southern India. It is the tenth largest Indian state by area and the sixth largest by population. Its capital and largest city is Chennai. Tamil Nadu is the home of the Tamil people, whose Tamil language ...
. Though the bank started with a seed capital of , as with most banks, the seed capital has grown, as have the services sold. The bank is managed and guided by the Board of Directors drawn from different fields. Realising that there is more money elsewhere, the bank expanded out of Karur and established approximately 668 branches in other States and Union Territories in order to gain a pan-India presence. Shri K.K. Balu was appointed as an Additional Director of the Bank on 27 January 2012 The Bank has celebrated its Centenary celebrations on 10 September 2016 at Chennai with the then
President of India The president of India ( IAST: ) is the head of state of the Republic of India. The president is the nominal head of the executive, the first citizen of the country, as well as the commander-in-chief of the Indian Armed Forces. Droupadi Mur ...
Shri.
Pranab Mukherjee Dr. Pranab Mukherjee (11 December 193531 August 2020) was an Indian politician and statesman who served as the 13th president of India from 2012 until 2017. In a political career spanning five decades, Mukherjee was a senior leader in the India ...
as Chief guest.


Branch and ATM Network

It has 779 branches and network of 1659 ATMs and around 565 cash deposit machines as on 31 March 2020. KVB has recorded a Total Business of with deposits of and advances of .


See also

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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. ...
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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 ...
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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 f ...
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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: ...
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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 ...
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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 ...
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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 crea ...


References


External links


The official site of The Karur Vysya Bank Limited
{{Banking in India Private sector banks in India Banks established in 1916 Companies based in Karur Companies based in Tamil Nadu Indian companies established in 1916 Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange