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Karnataka Bank Limited is an Indian private sector bank based in Mangalore. It is an 'A' Class Scheduled Commercial Bank with a network of 915 [ 2 ] branches, 1188 ATMs & Cash recyclers and 588 e-lobbies/mini e-lobbies across 22 states and 2 union territories.
The Karnataka Vikasa Grameena Bank (KVGB) is an Indian Regional Rural Bank sponsored by Canara Bank. It is under the ownership of the Ministry of Finance , Government of India . The bank provides retail banking services to rural users and has 629 branches in North and Western Karnataka .
This is because seven of the country's leading banks, Canara Bank, Syndicate Bank, Corporation Bank, Vijaya Bank, Karnataka Bank, Vysya Bank and the State Bank of Mysore originated from this state. [1] The first five in the above list of banks were established in the districts of Udupi and Dakshina Kannada.
Karnataka is the leader in the information technology sector in India and its capital, Bengaluru, is known as the Silicon Valley of India. In the IT sector, Karnataka generated a total revenue of ₹ 516.5 billion in the financial year 2006–07 which included ₹ 487 billion from software exports and ₹ 29.5 billion from hardware exports. [28]
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Karnataka Bank Limited was established on 18 February 1924 in Mangalore. [49] In addition to these, two banks were established in nearby towns. Corporation Bank was founded in Udupi by Khan Bahadur Haji Abdulla Haji Kasim Saheb Bahadur in 1906, [50] and Syndicate Bank was co-founded in Manipal by T M A Pai, Upendra Ananth Pai and V S Kudva in 1925.
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This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India’s commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.