Karnataka Gramin Bank

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Karnataka Gramin Bank
Native name
ಕರ್ನಾಟಕ ಗ್ರಾಮೀಣ ಬ್ಯಾಂಕ್
TypeBank
IndustryBanking, Insurance, Capital Markets and allied industries
PredecessorKaveri Grameena Bank, Pragathi Krishna Gramin Bank, Cauvery grameena bank, Cauvery Kalpatharu Grameena Bank, Chikmagalur Kodagu Grameena Bank and Vishvesvaraya Grameena Bank
Founded1 November 2012;
9 years ago (2012-11-01)
Headquarters
Ballari
Number of locations
1134 Branches in 22 Districts of Karnataka
Head Office: Ballari
Area served
Karnataka
Key people
  • Chairman: Shreenath H Joshi[1]
  • General Manager: B. Chandrasekhara Rao, S. Venkatramana
ProductsDeposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes
ServicesLoans, Deposits, ATM Services, National Electronic Fund Transfer (NEFT), Internet Banking, Mobile Banking, Aadhaar Enabled Payment System, Debit Card[2]
ParentCanara Bank
Websitekarnatakagraminbank.com

Karnataka Gramin Bank (Kannada:ಕರ್ನಾಟಕ ಗ್ರಾಮೀಣ ಬ್ಯಾಂಕ್) is a Regional Rural Bank (RRB) established under Regional Rural Banks' Act 1976, was a Scheduled Bank jointly owned by Government of India, Canara Bank and Government of Karnataka (share capital contributed in the ratio of 50:35:15 respectively), permitted to carry all kinds of banking business. The Bank is operating in 22 Districts of South Karnataka, having its Head Office at Ballari with 7 Regional Offices at Mysuru, Mandya, Chamarajanagar, Madikeri, Kolar, Yadgir and Kalabuagi.[3] The Bank came into existence on 1 April 2019 (Sponsored by ) by Amalgamation of Kaveri Grameena Bank, Pragathi Krishna Gramin Bank, Sponsored by State Bank of Mysore and Canara Bank respectively.

With a view to develop the rural economy by catering the basic banking needs for the purpose of development of Agriculture, Trade, Commerce, Industry and other productive activities in the rural areas, credit and other facilities, particularly to the small and marginal farmers, Agricultural Labourers, Artisans and small entrepreneurs and for matters connected therewith and individuals thereto.[4]

RRBs have now become an Integral part of the Indian banking System. Like other public sector Banks RRBs are established by Govt. of. India and are scheduled & notified by Reserve Bank of India.[5]

RRBs are jointly owned by Government of India(GOI), Sponsor Bank and the concerned State Government and with share proportion 50%, 35% & 15% respectively.[6]

Govt.of.India with a view to improve the operational viability and efficiency of RRBs, initiated the process of Structural Consolidation by amalgamating RRBS.[7]

Karnataka Gramin Bank with its Head office at Ballari under the sponsorship of Canara Bank came to existence on 01 April 2019 as per the gazette Notification of Government of India No.852 dated 22 February 2019 with amalgamation of 2 RRBs i.e., Pragathi Krishna Gramin Bank (Sponsored by Canara Bank with Head Office at Ballari) and Kaveri Grameena Bank (Sponsored by State Bank of India with Head Office at Mysuru).[8]

Motto[]

Vishwasada Pratheeka :Symbol for the Faith/Trust[9]

History[]

Year - event

  • 2012 - The Bank was established as 'Kaveri Grameena Bank', on 1 November in South Karnataka (Headquartered at Mysuru).[10]
  • 2013 - The Bank was established as 'Pragathi Krishna Gramin Bank', on 23 August in North Karnataka (Headquartered at Ballari).[11]
  • 2014 - Bank has recorded a growth rate of 36.52 per cent during 13–14.[12][13]
  • 2014 - Bank launches financial inclusion scheme.[14]
  • 2014 - Bank opens four branches in Mandya district.[15]
  • 2015 - The Kaveri Grameena Bank has enrolled over 48,000 subscribers for the PMSBY in Mysore.[16]
  • 2015 - Kaveri Grameena Bank has enrolled 1,01,104 subscribers to the insurance schemes underlining the popularity of the social security schemes in rural areas.[17]
  • 2015 - The Kaveri Grameena Bank plans to extend internet and mobile banking services to its customers.[18]
  • 2019 - The Kaveri Grameena bank amalgamated with Pragathi Krishna Gramin Bank to form Karnataka Gramin bank.

See also[]

References[]

  1. ^ InfoTech, S. R. V. "Board of Directors | Karnataka Gramin Bank". karnatakagraminbank.com. Retrieved 10 October 2021.
  2. ^ [1][dead link]
  3. ^ InfoTech, S. R. V. "Branch Network of Karnataka Gramin Bank". karnatakagraminbank.com. Retrieved 10 October 2021.
  4. ^ InfoTech, S. R. V. "Performance Highlights of Karnataka Gramin Bank". karnatakagraminbank.com. Retrieved 10 October 2021.
  5. ^ InfoTech, S. R. V. "Organisational Structure of Karnataka Gramin Bank". karnatakagraminbank.com. Retrieved 10 October 2021.
  6. ^ InfoTech, S. R. V. "GSTIN NO of Karnataka Gramin Bank". karnatakagraminbank.com. Retrieved 10 October 2021.
  7. ^ InfoTech, S. R. V. "Executives of Karnataka Gramin Bank". karnatakagraminbank.com. Retrieved 10 October 2021.
  8. ^ InfoTech, S. R. V. "Origin of RRBs and the Bank". karnatakagraminbank.com. Retrieved 10 October 2021.
  9. ^ InfoTech, S. R. V. "Significance of LOGO & Motto of Karnataka Gramin Bank". karnatakagraminbank.com. Retrieved 10 October 2021.
  10. ^ "Bank merge". Thehindu. 3 November 2012.
  11. ^ InfoTech, S. R. V. "Balance Sheet of Pragathi Krishna Gramin Bank, Government owned Sheduled Bank, Sponsored by Canara Bank". pragathikrishnabank.com. Retrieved 10 October 2021.
  12. ^ "Kaveri Grameena Bank records growth rate of 36.52 p.c." Thehindu. 7 May 2014.
  13. ^ "Kaveri Grameena Bank net up 36.5% in FY14". Business Standard. 6 May 2014.
  14. ^ "KGB launches financial inclusion scheme". Thehindu. 14 August 2014.
  15. ^ "KGB opens four branches in Mandya district". Thehindu. 31 October 2014.
  16. ^ "1.96 lakh enrol for Centre's two insurance schemes in Mysuru district". Thehindu. 31 May 2015.
  17. ^ "Special drive to popularise social security schemes". Thehindu. 17 July 2015.
  18. ^ "Kaveri Grameena Bank to introduce internet services". Thehindu. 1 January 2016.
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