Karnataka Vikas Grameena Bank (KVGB), a regional rural bank sponsored by Syndicate Bank, has opened three lakh accounts under the Pradhan Mantri Jan Dhan Yojana, according to Ashok Reddy, Chairman of KVGB.
Speaking at the inauguration of the 553rd branch of the bank at Guddeangadi village in Udupi district on Wednesday, he said that the bank has introduced ‘dial-for-account’ initiative as an additional step under the financial inclusion plan. He termed the initiative as an effort in taking banking to the doorsteps of the common man.
The bank is playing a major role in extending the affordable banking facilities to rural people. The bank would conduct grama sabhas for the benefit of villagers to provide better interaction between villagers and bank officials, he said.
Reddy said that the total business of the bank has crossed ₹16,000 crore. The bank has around 55 lakh customers. It plans to open 24 more branches and 150 ATMs during the current financial year, he said.
Inaugurating the branch, KM Udupa, Managing Trustee of the Manipal-based Bharatiya Vikas Trust, said that banks have to play proactive role in rural areas. They have to act as a friend, philosopher and guide to the farmers in taking the right credit decision.
He urged the farmers to make best use of the regional rural banks. Udupa appreciated KVGB for expanding its operations in the un-banked villages in Udupi district.
Suresh Nayak, President of Guddeangadi village panchayat, asked the villagers to take full advantage of the facilities being provided by KVGB, and complimented the bank for its initiatives under the financial inclusion programme.