SBM branch opened in Sir MV's birth place

 
The credit for bringing both these systems to the State first should go to Sir M Visvesvaraya, he added.

He was speaking after inaugurating the State Bank of Mysore branch at Sir MV’s residence in Muddenahalli and said the banking system had been able to provide excellent service even in the rural areas due to the use of internet technology.

The banks should play a major role in rural development. In this background the services provided by SBM is truly laudable. At a time when VTU’s higher study centre was being established it was appropriate that SMB branch was also being opened at Sir MV’s birth place which is a matter of joy, he said.

He was ready to open a branch of the same bank in the VTU higher study centre and ready to open an account with Rs one crore deposit, said Kincha.

SBM managing director Dilip Mavinkurve said Sir MV opened the first branch of SBM in 1913. In his birth place the 689th branch has been opened.

In memory of Sir MV two ATMs are being opened, he added. For the development of agriculture, industries and employment SBM was giving lot of stress thus putting into practice the ideals of Visvesvaraya, he said.

The bank would give full cooperation for the all round development of Muddenahalli. By involving in community work it was possible to provide facilities like schools and other basic amenities, said Mavinkurve.

Sir MV’s close relative Shakuntala Krishnamurthy said in a meeting of the officials held in the maharaja’s palace in 1912, Visvesvaraya had expressed a view that a government’s bank should be opened in the State. In the meeting nine members had given their approval to the idea.

This issue was noted in his diary by Sir MV, she added.

She also displayed the savings pass book of Sir MV. The audience appreciated the way the pass book which was opened 96 years ago was preserved. ZP planning officer Annayappa said in the branch opened in Muddenahalli Rs one crore would be deposited. In the village there were 1600 houses and 1100 accounts had already been opened. The remaining accounts would be opened and the ZP would cooperate for the development of the bank.

SBM general managers Nanjunda and Asin, Lions District governor K H Venkatappa, SJC college registrar Umesh, bank manager V Sunil and Bank’s deputy general manager T S Sathyanarayan were present.