Karnataka Vikas Grameen Bank (KVGB), a leading regional rural bank (RRB) in Karnataka, is planning to open an exclusive branch for MSME (micro, small and medium enterprise) sector in Belgaum district.
Speaking to Business Line here, Mr C. Sambasiva Reddy, Chairman of KVGB, said that the KVGB's MSME branch will be the first such branch among the RRBs.
The new branch will be opened in Udyambagh in Belgaum by first week of January. The bank has already received the licence from the RBI to open an MSME branch, he said.
On selecting Belgaum for opening such a branch, he said Belgaum is the hub for small-scale industries in north Karnataka region. Belgaum is also in close proximity with Pune and Mumbai.
Asked if the bank is planning more such branches, he said the bank will identify places of having potential for such branches.
“If suitable, we may go in for opening such branches in district headquarters under our jurisdiction,” he said.
Stating that there are a lot of entrepreneurs in Hubli-Dharwad area, he said the bank may consider opening one branch in that region in the next fiscal.
Added to this, the bank is planning to open one all-women branch at Dharwad before March 2012. This branch will be completely managed by women staff members, he said.
Considering the demand for gold loans among customers, the bank is thinking of opening exclusive counters in some of its branches.
Mr Reddy said that 25 branches of the bank will get exclusive counters to market gold loan products.
KVGB has a network of 482 branches in nine districts of Karnataka. It may be mentioned here that the bank opened its ninth regional office in Mangalore on December 19 catering to the needs of Dakshina Kannada and Udupi districts.