The Hindu Business Line : Karnataka rural bank biz

The Karnataka Vikas Grameena Bank, a regional rural bank sponsored by Syndicate Bank, recorded 20.62 per cent growth in business during the financial year 2007-08. Quoting Mr M. Dhananjaya, Chairman, a bank release said here on Friday that the bank reached a business level of Rs 5,304 crore during 2007-08 as against Rs 4,397 crore in the previous fiscal. The total business consists of Rs 2,757 crore of deposits and Rs 2,547 crore of advances. In the nine districts, which form its area of operation, the bank had disbursed Rs 1,119 crore of which Rs 776 crore was for agriculture. The release said that the bank has plans for taking the total business to Rs 7000 crore at the end of 2008-09. - Our Bureau

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