Karnataka Bank adds 17 ultra-small branches
Updated: Aug 11, 2014 02:04:31pm
Mangalore, Aug 11 (KNN) Betting high on the SMEs, the Karnataka Bank Ltd has added 17 Ultra Small Branches (USBs) in 2013-14 taking the total number of such branches to 41, its Chairman and Managing Director P Jayarama Bhat has said.
Addressing shareholders, he said, “Financial inclusion is to provide banking services to the excluded population, at an affordable cost,” Bhat said.
The Bank has opened 17 ultra-small branches during the year taking the total USB’s to 41, he added.
The Bank has been allocated 207 grama panchayats consisting of 1002 villages, covering a population of 10, 31,000 as per 2001 census, in Karnataka, Andhra Pradesh and Chhatisgarh states.
The initiatives envisaged by the bank in technology front are – e-Lobby, Passbook printer kiosk, online account opening, missed call solution, mobile point of sale as to give thrust on ADC business, he said.
Last month, Bhat, who assumed office on July 14, 2009 completed five years as managing director. Under his leadership, the bank's business increased to Rs 70,300 crore from Rs 32,000 crore as on July-2009 - growth of more than two-fold at a compounded annual growth rate of 17 per cent.
The bank has planned to achieve business turnover of Rs 83,000 crore and to expand total outlets to 1,741, that is brick and mortar branch network of 675 branches, 1000 ATMs, 66 ultra-small branches by end of March 2015, he had said. (KNN/SD)
Addressing shareholders, he said, “Financial inclusion is to provide banking services to the excluded population, at an affordable cost,” Bhat said.
The Bank has opened 17 ultra-small branches during the year taking the total USB’s to 41, he added.
The Bank has been allocated 207 grama panchayats consisting of 1002 villages, covering a population of 10, 31,000 as per 2001 census, in Karnataka, Andhra Pradesh and Chhatisgarh states.
The initiatives envisaged by the bank in technology front are – e-Lobby, Passbook printer kiosk, online account opening, missed call solution, mobile point of sale as to give thrust on ADC business, he said.
Last month, Bhat, who assumed office on July 14, 2009 completed five years as managing director. Under his leadership, the bank's business increased to Rs 70,300 crore from Rs 32,000 crore as on July-2009 - growth of more than two-fold at a compounded annual growth rate of 17 per cent.
The bank has planned to achieve business turnover of Rs 83,000 crore and to expand total outlets to 1,741, that is brick and mortar branch network of 675 branches, 1000 ATMs, 66 ultra-small branches by end of March 2015, he had said. (KNN/SD)
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