Karur Vysya Bank
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|Private (BSE: 590003)|
|Headquarters||Karur, Tamil Nadu, India|
Multicurrency travel card
KVB e-Book - Mobile App
|₹5,126.6 million (US$76 million)(2011–2012)|
Number of employees
7,071(30 November 2013)
Karur Vysya Bank (Tamil) கருர் வைஸ்யா வங்கி is a private-sector Indian bank, headquartered in Karur in Tamil Nadu. It was set up in 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar.It is one of the largest old generation private bank in India and also largest Tamil Nadu based private bank followed by City Union Bank, Tamil Nadu Mercantile Bank and Lakshmi Vilas Bank. As on 31st March 2015, the bank has around 7,500 employees. The bank is a member of IBA and its employees are have union registered with AIBEA.The bank also offers Internet Banking and Mobile Banking facilities to its customers. The bank is known for its cash deposit machines (CDM) a major technology initiative taken only by few banks in India.This bank is also an excellent paymaster amongst all private sector banks.The bank has been paying an ex-gratia each year to all employees for several years. Presently this sum is around INR 50,000/- p.a.for officer cadre(over and above salary).All perks and allowances are similar to other nationalised banks,contrary to what is generally believed of a private sector bank.
'The Karur Vysya Bank Limited', popularly known as KVB was set up in 1916 by Mr M.A Venkatarama Chettiar and Mr Athi Krishna Chettiar, to capitalise on the previously unexploited market of traders and agriculturists in and around Karur, a town in Tamil Nadu. Origins:
Though the bank started with a seed capital of ₹1 lakh, As with most banks, the seed capital has grown, as have the services sold. The bank is managed and guided by the Board of Directors drawn from different fields.
Realising that there is more money elsewhere, the bank expanded out of Karur and established approximately 668 branches in other States and Union Territories in order to gain a pan-India presence.
Shri K.K. Balu was appointed as an Additional Director of the Bank on 27 January 2012.
Branch and ATM Network
It has 675 branches and network of 1668 ATM's as on 19 th June -2016. KVB total business till March 2016 was around 89500 crores.
- KVB markets services through multiple channels, including:
- Any Branch Banking[clarification needed]
- Multicity Account facilities
- Internet Banking
- Unlocking of Internet Banking user id through SMS.
- Online Tax Payments through Internet Banking
- On-line utility bill payments and shopping facilities
- On line Payment of Electricity Bill in Tamil Nadu (TNEB) through Net Banking
- E-Commerce facilities, utilising 'Verified by VISA'
- Mobile Banking
- 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 cards
- On-Line Train Ticket and Air Ticket Booking using KVB VISA Debit Card
- VISA enabled Gift and Travel Card
- Visa KVB SBI CREDIT CARD
- Card to Card and Card to account transfer of funds through KVB ATMs
- Payment of institutional fees through ATMs
- 24 X 7 toll free professional help desk services for all ATM, Internet Banking, Mobile Banking and e-commerce transactions.
- ATM Cash deposit Machine
Banking and Para Banking Services
Deposit and loan products
NRE / FCNR deposits and remittance services targeting NRIs.
General insurance policies in association with Bajaj Allianz General Insurance
Life insurance policies provided by Birla Sun Life Insurance
The distribution of 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 legally authorised open accounts under the New Pension Scheme.
KVB POS terminal facility is available at merchant establishments.
KVB tie up with SBI Cards for a co-branded credit card
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