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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 .
Polali Jayarama Bhat (14 November 1951 – 9 August 2023) was an Indian banker who was the managing director (MD) and chief executive officer (CEO) of Karnataka Bank, a major Indian commercial bank in the private sector.
The act was ratified by referendum in the Spring of 1853, and the first State Bank Comptroller, James S. Baker, was appointed by Governor Leonard J. Farwell. The Bank Comptroller was abolished in 1868 and its responsibilities transferred to a bank examiner in the Office of the State Treasurer of Wisconsin, where those duties remained until 1903 ...
The bank provided employment opportunities to the educated members of the local community. It had an initial paid-up capital of ₹8,000. It was unlike other banks which primarily financed trade and industries in urban areas. So as a new bank, Syndicate Bank decided to exploit the untapped small and medium enterprise and the agriculture sector. [2]
Kaveri Grameena Bank was a Regional Rural Bank established under Regional Rural Banks' Act 1976, was a Scheduled Bank jointly owned by Government of India, State Bank of India (formerly by State Bank of Mysore) and Government of Karnataka (share capital contributed in the ratio of 50 :35:15 respectively), permitted to carry all kinds of banking business.
The bank was established to help farming community. Later bank grew phenomenally under leadership of Mulki Sunder Ram Shetty during the 1960s. The Vijaya bank was nationalised in the 1980s by Government of India. The bank has presence in most of states of India. Later it was merged with Bank of Baroda along with Dena Bank on First April 2019.
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. [29]