Money & Banking

KVG Bank inks pact with fintech platform

Our Bureau Mangaluru | Updated on January 12, 2021 Published on January 12, 2021

P Gopikrishna, Chairman, KVGB   -  THE HINDU

Karnataka Vikas Grameena Bank (KVGB) has signed a memorandum of understanding with 'Jai Kisan' (a rural-focused fintech platform of Greenizon Agritech Consultancy Pvt Ltd) to expand access to financial services to individuals and businesses in Karnataka, including farmer and non-farmer entrepreneurs.

A press release said that P Gopikrishna, Chairman of KVGB, and Arjun Ahluwalia, founder and CEO of Jai Kisan, signed the MoU in Dharwad.

Gopikrishna said that the bank intends to extend its services to small and micro enterprises (SME), joint liability groups (JLG), self-help groups (SHG), and to farmers through Kisan Credit Card (KCC) and credit for farm mechanisation efforts through its partnership with Jai Kisan. This partnership will enable them to systemically increase reach and serve consumers and create grassroots level impact by extending low-cost credit to the rural ecosystem in nine districts’ service area. KVGB has jurisdiction over Dharwad, Gadag, Haveri, Bagalkot, Vijayapura, Belagavi, Uttara Kannada, Udupi, and Dakshina Kannada districts.

The release said that Jai Kisan would procure a diverse range of clients for KVGB and enable end-to-end operations and facilitation of credit and other financial services for customers via its technology capabilities.

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Published on January 12, 2021
regional rural banks
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