Andhra Pradesh Chief Minister N. Chandrababu Naidu has advised banks in the public sector as well as private ones to leverage technology to provide quality services and products to the masses.

He was speaking at the 101 founders' day celebration of Karur Vysya Bank here on Saturday. Earlier, he dedicated on line the first ‘digital village’ facilitated by KVB at Bandarupalli in Guntur district. He was the chief guest at the function.

KVB has adopted Bandarupalli, a remote village with no banking facilities, and set up a digital branch there. Cashless transactions are ensured and all banking transactions are conducted in a digital atmosphere.

Chandrababu Naidu said that the visionary leadership of KVB's founders in identifying the banking needs of the local community in Karur (Tamil Nadu) and thereby earning the trust of the people had put the Karur Vysya Bank (KVB) on a firm footing. From a small town, it had grown into one of the major banks in the country.

Expressing appreciation over KVB contributing Rs 1 crore from its CSR funds to Visakhapatnam district, the Chief Minister said that other banks should emulate KVB.

KVB Chairman B. Swaminathan traced the origin and growth of the bank during the last 100 years. Founded by M.A. Venkatarama Chettiar and Athi Krishna Chettiar with a capital of Rs 1 lakh in Karur in 1916, KVB today has emerged as a major bank with 760 branches in 18 States and three UnionTerritories, in addition to over 1,700 ATM s and 500 Cash Deposit Machines (CDMs). The bank has the second largest customer base in AP, after Tamil Nadu.

MD and CEO of KVB P.R. Seshadri said the bank was providing free wi-fi facility in Bandarupalli village, facilitating online payments and digital banking and provision of micro ATM s at commercial establishments in the village.

KVB Director Suryanarayana spoke.

Ministers Ganta Srinivasa Rao and Sidda Raghava Rao and Visakhapatnam MP Kambhampati Haribabu were present.

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