Karnataka Bank Opens its 500th Branch
Media Release
Shiroor, Mar 29 : The 500th branch of Karnataka Bank was inaugurated by A.G. Kodgi, Chairman, Task Force for Implementation of third Finance Commission Report. Govt of Karnataka on 29 March, 2012 at Shiroor.
In his inaugural address, Kodgi said that it is not enough to keep citing facts and figures to claim financial progress, what is needed is actual implementation of fiscal policies to benefit the rural masses. Karnataka Bank has played a major role in the implementation of the nation’s financial policies, he pointed out. Expressing appreciation for Karnataka Bank’s pro people policies, he opined that it was precisely such policies that had helped the bank to well establish in the country. The fact that the Bank has setup its 500th Branch in rural area like Shiroor reflects its concern to reach out to the rural masses. It is important that the facilities offered by the Branch are made use of by the rural masses, he added.
P Jayarama Bhat MD of the Bank provided the information that the Bank has branches in 22 states out of which 98 branches are setup in rural areas and 112 branches in Semi Urban Centres. The Bank has deep concern for rural development and seeks to play a part in reaching out to farmers and villagers. It is inevitable that banks respond to the requirements of its customers and thus contribute to the development of the area. Karnataka Bank has always functioned with this principle, he added. The 500th Branch at Shiruru is oriented towards this philosophy of the bank.
Three more branches with ATMs have been planned. Karnataka Bank now has 350 ATMs. In the next financial year the bank plans to setup 50 more branches with 200 ATMs. The total Business turnover of the Bank has crossed Rs. 51,000 crores and serves more than 50 lakh customers. It now has 1.25 lakhs of share holders. P Jayarama Bhat was speaking after lighting the lamp.
Ananthakrishna, Chairman of the Bank pointed out that the upliftment of rural areas was very much on the radar of financial planning and all banking activities were oriented towards reaching this objective. The union government has major plans in this regard and has directed the banking sector to plan its activities around this concept. This branch is the 22nd branch setup in this financial year. Karnataka Bank has given highest priority to inclusive banking he said. These days most ATMs are setup by the Bank in rural areas and are providing unique banking facilities to villagers through technological services. Sri Ananthakrishna presided over the function.
The proprietors of the premises were honoured on the occasion.
Dr H Rammohan, Director of the Bank, M V C S Karanth, GM, K G Ramesh Rao, DGM, B M Ramesh, PRO and Chief Manager were also present. Dr Anandarama Upadhya, Mangalore Region Head and AGM welcomed. Shashiraj Rao, AGM compered. Prakashchandra Shetty, Branch Manager proposed the vote of thanks.