Karnataka Bank opens 500th branch in Shiroor

Karnataka Bank opens 500th branch in Shiroor

Mangalore Today News Network

Shiroor, Mar 30, 2012 : A. G. Kodgi, the chairman of the Task Force for the Implementation of the Third Finance Commissioner Report, Government of Karnataka, inaugurated the 500th branch of Karnataka Bank on March 29 in Shiroor.

 

Mr. Kodgi stressed the need to implement fiscal policies for the benefit of the rural masses in his inaugural address, adding that Karnataka Bank has played a major role in the implementation of national fiscal policies. Expressing his appreciation of the bank’s people friendly policies, he said that these policies helped the bank to establish itself in the country. The very fact that the bank has set up its 500th branch proves that it is concerned about rural welfare, he added.

Speaking on the occasion, Karnataka Bank MD P. Jayarama Bhat said that the bank now has branches in 22 states, of which 98 branches are in rural areas and 112  branches are in semi urban areas. Stating that the bank is deeply concerned about rural development, he said that it focuses on rural development, adding that the 500th branch in Shiroor is based on this philosophy.

Further, the bank has planned 3 more branches with ATMs. The bank, which already has 350 ATMs, plans to set up 50 more branches with 200 more ATMs next fiscal year. The bank’s business turnover has crossed the Rs. 51,000 crore mark and its serves over 50 lakh customers and has 1.25 lakh shareholders, said Mr. Bhat.

Chairman Ananthakrishna said that rural uplift was part of the bank’s financial planning. Besides, the union government has also directed the banking sector to plan its banking activities around this concept. The new branch in Shiroor is the 22nd branch set up this year, he said, adding that even ATMs are being set up in rural areas to take banking facilities closer to villagers.

Among the dignitaries present were Dr. H. Rammohan, the director of the bank; M. V. C. S. Karanth, the general manager; K. G. Ramesh Rao, the DGM; B. M. Ramesh, the PRO and chief manager; and others.