Karnataka Vikas Grameena Bank (KVG Bank), a Dharwad-based regional rural bank (RRB) having loan account of 1.09 lakh women, is planning to open a separate ‘Mahila Banking Branch' at Hubli.
“Of the total outstanding advances of Rs 4,326 crore, the share of women beneficiaries is around Rs 665 crore and which constitutes more than 15 per cent,” said Mr C. Sambasiva Reddy, Chairman, KVG Bank.
“To mark the International Women's Day on March 8, we are opening our first ‘Mahila Banking Branch' at Hubli,” he added. Mr Reddy said “The new branch will be financing women entrepreneurs and cater to their requirements in an integrated manner. It will be managed by women staff only.”
Apart from regular banking functions, the branch will act as a centre for development for women offering facilities such as credit-related counselling, guidance services and information about various schemes for women.