The Karnataka Bank Limited (Kannada: ಕರà³à²£à²¾à²Ÿà²• ಬà³à²¯à²¾à²‚ಕೠಲಿಮಿಟೆಡà³) is a major banking institution based in the coastal city of Mangaluru in Karnataka, India. The Reserve Bank of India has designated Karnataka Bank Limited as an A1+ class Scheduled Commercial Bank.
Karnataka Bank Limited currently has a network of 773 branches, 1,398 ATM's and 111 e-lobbies/mini e-lobbies across 22 states and 2 Union territories. It has over 8000 employees and 8.2 million customers throughout the country. Its shares are entirely privately owned by over 1,46,000 shareholders. The tag line of the bank is "Your Family Bank Across India".
In August 2008, Karnataka Bank Limited received the Sun and NDTV Green IT Award. Sun Microsystems and NDTV gave the award to in recognition of the bank's "green policies" and use of earth-friendly technology such as solar power.
The bank has the Best Bank Award for "Managing IT Risk" under small bank category for the year 2010-11, instituted by Institute for Development and Research in Banking Technology (IDRBT). Shri Anand Sinha, deputy governor, Reserve Bank of India and chairman, IDRBT presented the award to Shri P. Jayarama Bhat, Managing Director at a function held in Hyderabad on 4 August 2011 in the presence of Shri B. Sambamurthy, director, IDRBT.
Karnataka Bank Limited has adopted Core banking and Internet banking, and established its "MoneyPlant" [1,397 Automated Teller Machine] system. During 2015-16, the bank received the IDRBT Banking Technology Excellence Award of the Institute for Development and Research in Banking Technology [IDRBT], Hyderabad for the year 2014-15. Karnataka Bank Limited has received the Federation of Indian Export Organizations â€" Western Region's “Export Excellence Award for MSMEâ€, for the year 2014 -15. The bank has achieved the ISO 27001:2013 Certificate from UKAS, Management Systems, a UK based certifying body.
History
Karnataka Bank Limited was incorporated on 18th February 1924, and commenced business on 23rd May 1924. Its founders established it at Mangalore, a coastal town in the Dakshina Kannada district of Karnataka. Among the founders, who created the bank to serve the South Kanara region, was B. R. Vysaray Achar. Another important personality associated with the bank was K. S. N. Adiga, who served as Chairman from 1958 to 1979.
In the 1960s Karnataka Bank Limited acquired three smaller banks. In 1960 Karnataka Bank acquired the Sringeri Sharada Bank, which was established in 1942 and which had four branches when Karnataka acquired it. Four years later, Karnataka Bank Limited took over the assets and liabilities of the Chitradurga Bank (also known as Chitladurg Bank), which was established in 1868 in Mysore State and was the oldest bank in Mysore. Lastly, in 1966 Karnataka Bank Limited took over the assets and liabilities of the Bank of Karnataka, in Hubli. Bank of Karnataka had been established in 1946 and had opened one branch in Belgaum in 1947. At the time of this acquisition, Bank of Karnataka had 13 branches.
In 2000, Karnataka Bank Limited signed a memorandum of understanding with Infosys Technologies to develop a core-banking solution called Finacle. Over 221 branches were networked up to 31st March 2004. The main motto of this programme is "Anytime/Anywhere banking". In 2002, the bank concluded a pact with Corporation Bank for sharing its ATMs. A year later, the bank introduced the Moneyplant card that allows customers to withdraw money from any of their Karnataka bank accounts.
In September 2003, the bank shifted its head office from Kodialbail to Kankanady.
Services
The branches are available in 22 Indian states and 2 union territories. In August 2008, the Karnataka Bank Limited introduced Quick Remit, a facility to make money transfer easy for Non-Resident Indians living in Canada, United States and the UK. The bank also runs a 24-hour Internet banking service called Moneyclick.
Karnataka Bank Limited offers multi-branch banking, deposit schemes as Abhyudaya cash certificate, fixed deposits, ready money deposit, Soulabhya deposit, cumulative deposit, Platinum lakhpathi, insurance linked savings bank deposit, K-Flexi deposit, resident foreign currency (domestic) account, NRI services, Senior Citizens Deposit Scheme and loan schemes as Vidyanidhi education loans, Apna ghar home loans, car finance scheme, Varthak loans, Easy ride, Scheme for salaried persons, Udyog mithra, Niveshan loans, Krishi card, K-Power, Lease ‘n’ Encash, Suvarna Nidh, InstaCash and VahanaMitra.
Digital Banking
- KBL-ApnaApp
- KBL-mPassBook
- KBL Smartz
- KBL POS Manager
- KBL Mobile
List of C.E.O & M.D/ Chairman
- B. R. Vyasaraya Achar 1924-1958
- K. Suryanarayana Adiga (23 November 1958 â€" 15 February 1979)
- K. N. Basri (15 February 1979 â€" 19 February 1980)
- P. Raghuram (16 June 1980 â€" 15 June 1985)
- P. Sundar Rao (11 September 1985 â€" 10 September 1989)
- H. M. Rama Rao (11 January 1990 â€" 11 January 1993)
- U. V. Bhat (28 June 1993 â€" 27 June 1995)
- M. S. Krishna Bhat (12 July 1995 â€" 11 July 2000)
- Ananthakrishna (13 July 2000 â€" 11 July 2009)
- P. Jayaram Bhat (12 July 2009 - 10 April 2017 )
- Mahabaleshwara M. S. (15 April 2017- )
See also
- Indian banking
- Economy of Mangalore
References
External links
- Official website