The Hindu Business Line : Karnataka Vikas Grameena Bank to be headquartered at Dharwar

KARNATAKA Vikas Grameena Bank — which was formed after amalgamating Malaprabha Grameena Bank, Bijapur Grameena Bank, Nethravathi Grameena Bank and Varada Grameena Bank, all regional rural banks sponsored by Syndicate Bank — will have its headquarters at Dharwar.

A Syndicate Bank press release said here on Friday that the combined entity covers 387 branches with a total business turnover of Rs 3,000 crore.

Mr B.S. Surendra, who headed Malaprabha Grameena Bank, is the Chairman of Karnataka Vikas Grameena Bank.

The release said that the amalgamation of four regional rural banks would go a long way in strengthening the set up with more capital and reserves. It will help in catering to the requirements of farmers, small and tiny industries, and artisans more effectively and comprehensively.

The release said that the interests of all customers and staff of the erstwhile regional rural banks are fully protected and there is no need for apprehension about the functioning of 387 branches and various administrative offices.

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