The Hindu Business Line : Karnataka rural bank plans four new branches

Mangalore, Feb. 17 The Dharwad-headquartered Karnataka Vikas Grameena Bank (KVGB), a regional rural bank sponsored by Syndicate Bank, plans to open four more branches by the end of the current financial year to take the total number of branches to 407.

At the inauguration of the bank’s 403rd branch of at WALMI (Water and Land Resource Management Institute) in Dharwad on Friday, the Chairman Mr M. Dhananjaya said the bank plans branches at Hanuman Nagar in Belgaum taluk, Ashram Road in Bijapur taluk, Yadwad in Gokak taluk and Hole Alur in Ron taluk this fiscal.

A bank release stated it plans to achieve Rs 5,000-crore business by the end of February. The bank wants to provide financial assistance to the SME sector in its area of operation, it said.

Inaugurating the branch, the Managing Director of Karnataka Neeravari Nigam Ltd Mr D. Satyamurty said banking sector should accelerate its services for the overall development of the nation.

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