Financial Daily from THE HINDU group of publications
Saturday, May 06, 2006
Financial Daily from THE HINDU group of publications Saturday, May 06, 2006 |
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Money & Banking
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Regional Rural Banks States - Karnataka Karnataka Vikas Bank posts 22.26 pc growth Our Correspondent
Dharwad , May 5 Karnataka Vikas Grameena Bank, which came into existence with the amalgamation of four regional rural banks, has achieved a growth of 22.26 per cent in the financial year 2005-06 Addressing press persons here on Friday, Mr B.S. Surendra, Chairman of the bank said the bank has achieved a business level of Rs 3,667 crore and gross profit of Rs 74.20 crore. Mr Surendra said in just six months of the amalgamation, the bank had streamlined all the procedures and marched ahead effortlessly. It has earned a net profit of Rs 69 crore and the productivity per employee has increased from Rs 1.47 crore to Rs 1.72 crore, he informed. In the nine districts that the bank operates, an amount of Rs 846 crore has been disbursed of which Rs 436 crore is for agriculture. Under Kissan Credit Card Scheme 77,664 beneficiaries were given loans to the extent of Rs 377 crore and for all allied activities Rs 59 crore was given, he said. During the financial year 2005-06 the bank has disbursed loans to the tune of Rs 187 crore for small business, Rs 110 crore for passenger transport vehicles, Rs 198 crore for other productive purposes in the 2,198 villages of the nine districts. To a question, Mr Surendra said the bank had entered into an agreement with several leading tractor companies in a step towards making easy availability of tractor loans to the farmers. During the year Rs 41 crore was given to farmers for the purchase of 1,124 tractors. In an endeavour to help the poor, 9,364 Self Help Groups were credit linked to the tune of Rs 49 crore, he informed. He said the bank's gross NPA stands at 4.71 per cent and the net NPA at 2.4 per cent of the total outstanding advances. The recovery percentage of the bank stands at 71 per cent. Within three months of entering the life insurance business in association with Bajaj Allianz, a premium of Rs 1 crore has been collected, he said.
First ATM
Mr Surendra said the bank had already computerised 381 branches of the total 387 branches and the remaining branches would be computerised within a month. "The first Automatic Teller Machine (ATM) of the bank would be functional by the end of this month," he announced. He said KVG Bank is probably the only regional rural bank in the country, which will be giving the facility of ATM. During the financial year the bank plans to set up twenty ATMs, he said.
Recruitment
To a question, Mr Surendra said the bank has already started the process for recruitment of 67 employees. In order to give employment opportunity to the educated unemployed youths in the nine districts in which the bank operates, only candidates belonging to these districts are eligible to apply. Producing domicile certificates has been made mandatory, he clarified. Regarding the recent agitation by the employees of the bank over the transfer policy, Mr Surendra said the issue would be sorted out through negotiation.
More Stories on : Regional Rural Banks | Karnataka
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