Kaveri Grameena Bank
| Company type | Bank |
|---|---|
| Industry | Banking, Insurance, Capital Markets and related sectors |
| Predecessor | Cauvery grameena bank, Cauvery Kalpatharu Grameena Bank, Chikmagalur Kodagu Grameena Bank and Vishvesvaraya Grameena Bank |
| Defunct | 31 March 2019 merged into newly established Karnataka Gramin Bank |
| Successor | Karnataka Gramin Bank |
| Headquarters | |
Number of locations | 502 Branches across 10 Districts in South Karnataka Head Office: Mysore |
Area served | Karnataka |
Key people |
|
| Products | Deposit Products, Personal Banking Solutions, C & I Banking Solutions, Agricultural Banking Products, SME Banking Solutions |
| Services | Lending, Deposits, ATM Services, NEFT, Internet Banking, Mobile Banking, Aadhaar Enabled Payment System, Debit Card |
| Total assets | [1] |
Number of employees | 1797 (as of 31 March 2016) |
| Parent | State Bank of India (35%) |
| Website | karnatakagraminbank |
Kaveri Grameena Bank functioned as a Regional Rural Bank constituted under the Regional Rural Banks Act of 1976. It was a Scheduled Bank jointly owned by the Government of India, State Bank of India (previously State Bank of Mysore), and the Government of Karnataka with shareholding proportions of 50%, 35%, and 15% respectively. The bank’s operations spanned 22 districts in South Karnataka, with its Head Office situated in Bellary City and nine Regional Offices located in Mysuru, Mandya, Bengaluru, Tumakuru, Hassan, Chamarajanagar, Madikeri, Chikmagalur, and Ramanagara.
Initially launched as Cauvery Grameena Bank catering to Mysore, Hassan, and Chamarajanagar districts, it was rebranded as Kaveri Grameena Bank on 1 November 2012 following the merger of Cauvery Kalpatharu Grameena Bank, Chikmagalur Kodagu Grameena Bank, and Vishvesvaraya Grameena Bank—each sponsored by State Bank of Mysore, Corporation Bank, and Vijaya Bank respectively.
The bank’s headquarters were positioned at Vijayanagar Second Stage in Mysore; after the merger, this location has been repurposed as the IT Centre for Karnataka Gramin Bank.
History
Year - milestone
- 2012 - Formed as Kaveri Grameena Bank on 1 November with headquarters in Mysuru, South Karnataka.
- 2014 - Achieved a growth rate of 36.52% during the fiscal year 2013–14.
- 2014 - Initiated a financial inclusion program aimed at broadening rural banking access.
- 2014 - Established four additional branches within Mandya district to strengthen market coverage.
- 2015 - Registered over 48,000 participants under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) in Mysore.
- 2015 - Surpassed 101,000 total subscribers for insurance schemes, demonstrating robust rural social security adoption.
- 2015 - Announced plans to introduce internet and mobile banking facilities to improve customer convenience and digital interaction.
- 2019 - Merged with Pragathi Krishna Gramin Bank to create Karnataka Gramin Bank, thereby unifying regional banking services.
See also
External links
- ↑ "About". Archived from the original on 27 January 2016. Retrieved 3 November 2015.
- Regional rural banks in India
- Banks headquartered in Karnataka
- Companies located in Mysore
- Banks founded in 2012
- Indian corporations established in 2012
- 2012 establishments within Karnataka
- Banks that ceased operations in 2019
- Indian firms dissolved in 2019
- 2019 closures in Karnataka
- Indian companies disestablished in 2019