The Karnataka Vikas Grameen Bank (KVGB) under the financial inclusion scheme has covered 418 villages and of this, 53 villages have brick and mortar branches.
Meanwhile, the bank plans to open 50 regular branches and 50 ultra small branches and achieve a business-level of Rs 13,000 crore. Declaring 50 more villages as solar villages and establishing nine financial literacy centres are other schemes. KVGB chairman C Sambasiva Reddy told reporters here that the bank’s net profit for the year 2011-2012 stood at Rs 128 crore showing a growth of 35 per cent. The bank’s capital plus reserves have risen to Rs 839 crore from Rs 711 crore.
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