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Mangalore Feb. 26 Karnataka Vikas Grameena Bank - a regional rural bank sponsored by Syndicate Bank - has opened two branches at Vittal and Kalladka in Dakshina Kannada district. A press release said here on Monday that the total number of branches now stands at 391.

Speaking at the inauguration of these branches, Mr M. Dhananjaya, Chairman, said that the total business of the bank exceeds Rs 4,100 crore, and the bank proposes to reach a level of Rs 10,000 crore with a network of 450 branches by the end of 2010. Three more regional offices would be opened shortly, he said.

Stating that nearly 45 per cent of the population, especially in northern Karnataka region, is out of the banking fold, he said the bank has initiated steps to reach this un-reached segment through the `no frills' accounts. Already 3.4 lakh people are covered under this, and the number is likely to reach more than 4 lakh by March.

More Stories on : Regional Rural Banks | Karnataka

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Karnataka Vikas Grameena Bank opens 2 more branches

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