Karnataka Vikas Grameena Bank
TypeRegional Rural Bank
IndustryBanking
FoundedSeptember 12, 2005 (2005 -09-12)
Headquarters
Dharwad, Karnataka
,
India
Number of locations
629
Key people
Shreekant M Bhandiwad
(Chairman )
ProductsRetail banking, Corporate Banking, Insurance, PMAY, PMSBY, Govt Schemes
Revenue33150 Crore Business
OwnerGovernment of India (50%) Government of Karnataka (15%) Canara Bank (35%)
Number of employees
3500
ParentMinistry of Finance , Government of India.
Websitewww.kvgbank.com

The Karnataka Vikas Grameena Bank (KVGB), an Indian Regional Rural Bank sponsored by Canara Bank. It is under the ownership of Ministry of Finance , Government of India. The bank provides retail banking services to rural users and has 629 branches in areas of Karnataka, around North and Western Karnataka.

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 Notification dated 12 September 2005. All four amalgamated RRBs were sponsored by Syndicate Bank(Now Canara Bank) and were located in Karnataka.

After amalgamation in 2005, the level of the bank’s business was around 23263.73 Crore. After the merger, the RRB was named Karnataka Vikas Grameena Bank with its head office at Dharwad under the sponsorship of Syndicate Bank. Shreekant M Bhandiwad, Deputy General Manager of Canara Bank, took charge as the new Chairman of Karnataka Vikas Grameena Bank (KVGB), a Dharwad-headquartered Regional Rural Bank, 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[1] 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, located in the state of Karnataka. The bank is currently operating in 9 districts in the State which are:-

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[2] - 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[3]

See also

References

  1. ↑ "Karnataka Vikas Grameena Bank :: KVGB :: Dharwad, KA". www.kvgbank.com. Retrieved 21 November 2020.
  2. ↑ "Karnataka Vikas Grameena Bank :: KVGB :: Dharwad, KA". www.kvgbank.com. Retrieved 21 November 2020.
  3. ↑ "KVG Bank wins award for solar lighting". Thehindu.com. 17 February 2011. Retrieved 2 July 2015.
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