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Kaveri Grameena Bank

Summary

Kaveri Grameena Bank was a Regional Rural Bank established under Regional Rural Banks' Act 1976, was a Scheduled Bank jointly owned by Government of India, State Bank of India (formerly by State Bank of Mysore) and Government of Karnataka (share capital contributed in the ratio of 50 :35:15 respectively), permitted to carry all kinds of banking business. The Bank was operating in 22 Districts of South Karnataka, having its Head Office at Bellary City with Nine Regional Offices at Mysuru, Mandya, Bengaluru, Tumakuru, Hassan, Chamarajanagar, Madikeri, Chikmagulur and Ramanagara etc.[4]

Kaveri Grameena Bank
Company typeBank
IndustryBanking, Insurance, Capital Markets and allied industries
PredecessorCauvery grameena bank, Cauvery Kalpatharu Grameena Bank, Chikmagalur Kodagu Grameena Bank and Vishvesvaraya Grameena Bank
Founded1 November 2012;
11 years ago (2012-11-01)
Defunct31 March 2019 (2019-03-31) merged with newly formed Karnataka Gramin Bank
SuccessorKarnataka Gramin Bank
Headquarters
Mysore
Number of locations
502 Branches in 10 Districts of South Karnataka
Head Office: Mysore
Area served
Karnataka
Key people
  • Chairman: Mr Bhuvanendra Takoor
  • General Manager (Administration): Bhaskar Rao P
ProductsDeposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes
ServicesLoans, Deposits, ATM Services, National Electronic Fund Transfer (NEFT), Internet Banking, Mobile Banking, Aadhaar Enabled Payment System, Debit Card[1]
Total assets[2]
Number of employees
1797 (as on 31 Mar 2016)[3]
ParentState Bank of India (35%)
Websitekaverigrameenabank.com

The Bank was started as Cauvery Grameena bank and served Mysore, Hassan and Chamarajanagar districts. The bank was renamed as Kaveri Grameena Bank on 1 November 2012 (Sponsored by State Bank of Mysore) by Amalgamation of Cauvery Kalpatharu Grameena Bank, Chikmagalur Kodagu Grameena Bank and Vishvesvaraya Grameena Bank, Sponsored by State Bank of Mysore, Corporation Bank and Vijaya Bank respectively.[5][6][7]

The Headquarters of Kaveri Grameena Bank was located at Vijayanagar Second Stage, Mysore, which is now converted as IT Centre of Karnataka Gramin Bank, post merger.[8]

History edit

Year - event

  • 2012 - The Bank was established as 'Kaveri Grameena Bank', on 1 November in South Karnataka (Headquartered at Mysuru).[9][10][11]
  • 2014 - Bank has recorded a growth rate of 36.52 per cent during 13–14.[12][13][14]
  • 2014 - Bank launches financial inclusion scheme.[15]
  • 2014 - Bank opens four branches in Mandya district.[16]
  • 2015 - The Kaveri Grameena Bank has enrolled over 48,000 subscribers for the PMSBY in Mysore.[17]
  • 2015 - Kaveri Grameena Bank has enrolled 1,01,104 subscribers to the insurance schemes underlining the popularity of the social security schemes in rural areas.[18]
  • 2015 - The Kaveri Grameena Bank plans to extend internet and mobile banking services to its customers.[19]
  • 2019 - The Kaveri Grameena bank amalgamated with Pragathi Krishna Gramin Bank to form Karnataka Gramin bank.[20]

See also edit

References edit

  1. ^ "Performance Highlights". Archived from the original on 1 August 2015. Retrieved 3 November 2015.
  2. ^ "About". Archived from the original on 27 January 2016. Retrieved 3 November 2015.
  3. ^ "BANK TECHNOLOGY – kaverigrameenabank". Archived from the original on 28 April 2017. Retrieved 27 April 2017.
  4. ^ "Wipro to tech-ready 1,167 branches of Karnataka Gramin Bank". The Hindu. 18 March 2020. ISSN 0971-751X. Retrieved 10 October 2021.
  5. ^ "Google News". Google News. Retrieved 10 October 2021.
  6. ^ https://sbi.co.in/documents/17826/34475/1364204943265_BASE_II_DISCLOSURE_311212_ENGLISH.pdf [bare URL PDF]
  7. ^ https://financialservices.gov.in/sites/default/files/rrbrulesforappointmentsandpromotions2010_1.pdf [bare URL PDF]
  8. ^ "Annual day of Kaveri Grameena Bank today – Mysuru Today". Retrieved 10 October 2021.
  9. ^ "Bank merge". Thehindu. 3 November 2012.
  10. ^ https://rajyasabha.nic.in/Documents/session_journals/sessionno/227/13122012.pdf [bare URL PDF]
  11. ^ https://rbidocs.rbi.org.in/rdocs/publications/pdfs/84656.pdf [bare URL PDF]
  12. ^ "Kaveri Grameena Bank records growth rate of 36.52 p.c." Thehindu. 7 May 2014.
  13. ^ "Kaveri Grameena Bank net up 36.5% in FY14". Business Standard. 6 May 2014.
  14. ^ Reporter, B. S. (6 May 2014). "Kaveri Grameena Bank net up 36.5% in FY14". Business Standard India. Retrieved 10 October 2021.
  15. ^ "KGB launches financial inclusion scheme". Thehindu. 14 August 2014.
  16. ^ "KGB opens four branches in Mandya district". Thehindu. 31 October 2014.
  17. ^ "1.96 lakh enrol for Centre's two insurance schemes in Mysuru district". Thehindu. 31 May 2015.
  18. ^ "Special drive to popularise social security schemes". Thehindu. 17 July 2015.
  19. ^ "Kaveri Grameena Bank to introduce internet services". Thehindu. 1 January 2016.
  20. ^ Vinayak, A. J. (7 February 2019). "2 RRBs in Karnataka to be amalgamated". @businessline. Retrieved 10 October 2021.

External links edit

  • Official Website
  • Internet Banking

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