Karur Vysya Bank
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| Type | Public (BSE: 590003) |
|---|---|
| Industry | Banking Financial services |
| Founded | 1916 |
| Headquarters | Karur, India |
| Key people | K.P. Kumar (Chairman) Shri K. Venkataraman (MD & CEO) |
| Products | Investment Banking Commercial Banking Retail Banking Private Banking Asset Management Mortgages Gold & Silver Coins, Bars Credit Cards |
| Revenue |   52,000 crore (US$11.44 billion)(Q3 2011-2012) |
| Operating income | 512.66 crore (US$112.79 million)(Q3 2011-2012) |
| Net income | 354.93 crore (US$78.08 million)(Q3 2011-2012) |
| Employees | 4,574 (March 31, 2011) |
| Website | www.kvb.co.in |
Karur Vysya Bank is a privately held Indian bank, headquartered in Karur in Tamil Nadu. It was set up in 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar.
Karur Vysya Bank has opened Nine new branches during the month of January 2012 to take the total branch network of the bank to 444. The total number of ATMs of the bank is now at 776.
All the branches are powered with CBS — Core Banking Solution. The bank also offers Internet Banking and Mobile Banking facilities to its customers.
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[edit] History
Karur Vysya Bank, popularly known as KVB, one such endeavour, was set up in 1916 by two blokes, the Late Shri M A Venkatarama Chettiar and the Late Shri Athi Krishna Chettiar to inculcate the habit of savings and provide financial assistance to traders and small Agriculturists in and around Karur, a textile town in Tamil Nadu.
Though the bank started with a seed capital of Rs.1 lakh, it has withstood innumerable changes and challenges in the past few decades and has profitably emerged as one of the leading banks in India without compromising on its fundamentals. Venkatrama Chettiyar Athi Krishna Chettiyar The bank is managed and guided by the Board of Directors drawn from different fields.
Shedding its inherent regional flavour, the bank has now over 444 branches in variuos States and Union Territories in order to gain a pan India presence.
Shri K.K. Balu has been co-opted as an Additional Director of the Bank w.e.f. 27th January, 2012.
[edit] Branch and ATM Network
The bank had a branch network of 444 and an ATM network of 776 as on 07.03.2012. The bank plans to improve the branch network to 450 and the ATM network of 850 by the end of the financial year 2011 - 12.
[edit] Technological Accomplishments
KVB is one of the earliest banks in the country to achieve full networking of its branches under Core Banking Solutions, offering services through multiple delivery channels. Some of the noteworthy accomplishments of KVB are:
Any Branch Banking
Multicity Account facilities for both current and savings bank customers.
Internet Banking
online TAX Payments through Internet Banking
On line utility bill payments and shopping facilities
On line payment of electricity bill in Tamilnadu (TNEB) through Net Banking
E-Commerce facilities backed with the safety of Verified by VISA
Mobile Banking
KVB mPay offers the facility of inter-bank transfer of funds through Inter-bank Mobile Payment Services of NPCI.
Point of sale machines
Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) facilities at all branches
VISA and MasterCard Debit card facility with a card base of over 2 million
On-Line Train Ticket and Air Ticket Booking using KVB VISA Debit Card.
VISA enabled Gift and Travel Card
Access to over 800 KVB ATMs and over 90000 domestic ATMs and over 1 million VISA ATMs worldwide
Card to Card and Card to account transfer of funds through KVB ATMs
Payment of institutional fees through ATMs
Payment for air tickets (Kingfisher) through KVB ATMs
24 X 7 toll free professional help desk services for all ATM, Internet Banking, Mobile Banking and e-commerce transactions.
[edit] Banking and Para Banking Services
KVB offers several deposit and loan products, tailormade to cater to the specific needs of customers.
The bank offers NRE / FCNR deposits and remittance services to NRIs.
The bank offers all types of general insurance policies through a tie-up with M/s Bajaj Allianz General Insurance Company.
The bank offers life insurance policies through a tie-up with M/s Birla Sun Life Insurance Company.
The Bank distributes the Mutual Fund products of UTI, SBI MF, Reliance MF, Sundaram BNP Paribas MF, Birla Sunlife MF, Franklin Templeton MF and LIC MF
The Bank is a Depository Participant through NSDL and opens demat accounts ASBA facility available.
Off-line and on-line trading facility is available to the demat customers enabled through a tie-up with M/s Religare Securities Ltd and M/s IDBI Caps respectively.
KVB is one of the authorized banks to open accounts under the New Pension Scheme.
KVB POS terminal facility is available at merchant establishments.
KVB sells pure 24 carat Assay certified Gold Coins and bars and silver coins and bars.
[edit] External links
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