Kodgi opens 500th branch of Karnataka Bank

It is not enough to go by the facts and figures to claim finacial progress, but what is required is the implementation of finacial policies of the government to benefit the mass, said Task Force for Implementation of 3rd Finance Commission Report Chairman A G Kodgi.

He was speaking after inaugurating the 500th branch of the Karnataka Bank at Shiruru on Thursday. He appreciated the Karnataka Bank for playing a major role in the implementation of the nation’s financial policies. The Karnataka Bank’s pro-people policies have helped the bank to well establish in the country, he said. 

Managing Director of the Bank P Jayarama Bhat informed that the Bank has branches in 22 states out of which 98 branches are set up in rural areas and 112 branches in semi-urban centres. The Bank has concern for the rural development and seeks to play a part in reaching out to farmers and villagers. It is inevitable that banks respond to the requirements of its customers and thus contribute to the development of the area, he said. 

Meanwhile, he informed that three more branches with ATMs have been planned. Karnataka Bank at present has 350 ATMs. The bank plans to set up 50 more branches with 200 ATMs in the next financial year. The total Business turn over of the Bank has crossed Rs 51,000 crores and serves more than 50 lakh customers, informed Bhat.

Bank Chairman Ananthakrishna said that uplift of rural areas was very much on the radar of financial planning and all banking activities were oriented towards reaching this objective. The Government of India has major plans in this regard and has directed the banking sector to plan its activities around this concept. 

The Bank Director H Rammohan, General Manager MVCS Kamath and others were present.