What is the full form of KVB?
The full form of KVB is the Karur Vysya Bank. In India, KVB is a Scheduled Commercial Bank. It has completed hundred years of service and is one of India’s leading banks, its headquarter is located in Tamil Nadu, Karur. It was set up by M. in 1916. A. Venkatarama Chettiar as well as the Chettiar of Athi Krishna.
The financial institution mainly in the divisions of the treasury, retail banking, corporate or wholesale banking. As of 31 March 2020, the bank has 779 branches and a network of 1659 ATMs and about 565 cash deposit machines.
A brief history of KVB
- The KVB was founded on 25 July 1917 by Mr M. A. Venkatarama Chettiar & Mr Athi Krishna Chettiar to maximize the already undeveloped traders & farmers sector in and outside the town of Karur in Tamil Nadu.
- The bank began with startup money of about 1 lakh, the seed capital, along with other banks, grew, as did the services provided.
- The Board of Directors, drawn from various fields, who oversees and directs the bank.
- Realizing there is more money worldwide, to order to gain a pan-India presence, the bank expanded out of Karur and developed about 668 subsidiaries in other states/union territories.
- On 27 January 2012, Shri K.K. Balu was appointed as Additional Director of the Bank.
Services offered by KVB
Services offered by KVB are listed below.
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Corporate banking
KVB offers services such as corporate loans, multicity current account, Demat account &, and general insurance amongst others under corporate banking.
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Personal banking
In personal banking, the bank offers, along with many other products like insurance & fixed deposits, housing loans, personal loans.
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Agricultural banking
The agricultural banking schemes given by KVB involve KVB Happy Kisan, Green Harvester & Green Trac.
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MSME
In MSME, the bank offers services like KVB MSME Term Loan, KVB MSME Standby Term Loan, KVB MSME Cash & KVB MSME Vendor Bill Discounting.
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