Karur Vysya Bank
Encyclopedia
Karur Vysya Bank is a privately held India
n bank, headquartered in Karur
in Tamil Nadu
. It was set up in 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar.
The bank has a branch network of 417 and an ATM network of 620 as on 28.11.2011.
All the branches are powered with CBS — Core Banking Solution.
The bank also offers Internet banking and mobile banking
facilities to its customers.
Technological accomplishments
KVB is one of the earliest banks in the country to achieve full networking of its branches under Core Banking Solutions, offering services through multiple delivery channels. Some of the noteworthy accomplishments of KVB are:
Any Branch Banking
Multicity Account facilities for both current and savings bank customers.
Internet Banking
On line utility bill payments and shopping facilities
On line payment of electricity bill in Tamilnadu through Net Banking
e-commerce facilities backed with the safety of Verified by VISA
Mobile Banking
Point of sale machines
Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) facilities at all branches
VISA Debit card facility with a card base of over 2 million
On-line rail and air ticket booking using KVB VISA Debit card
VISA enabled Gift and Travel Card
Access to nearly 500 KVB ATMs and over 13000 domestic ATMs under the VISA / NFS cluster and over 1 million VISA ATMs worldwide
Card to Card and Card to account transfer of funds through KVB ATMs
Payment of institutional fees through ATMs
Payment for air tickets (Kingfisher) through KVB ATMs
24 X 7 toll free professional help desk services for all ATM, Internet Banking, Mobile Banking and e-commerce transactions
Banking and Para banking services
KVB offers several deposit and loan products, tailormade to cater to the specific needs of customers
The bank offers all types of general insurance policies through a tie-up with M/s Bajaj Allianz General Insurance Company
The bank offers life insurance policies through a tie-up with M/s Birla Sun Life Insurance Company
The Bank distributes the Mutual Fund products of UTI, SBI MF, Reliance MF, Sundaram BNP Paribas MF, Birla Sunlife MF, Franklin Templeton MF and LIC MF
The Bank is a Depository Participant through NSDL and opens demat accounts
ASBA facility available
Off-line and on-line trading facility is available to the demat customers enabled through a tie-up with M/s Religare Securities Ltd and M/s IDBI Caps respectively
KVB is one of the authorized banks to open accounts under the New Pension Scheme.
KVB POS terminal facility is available at merchant establishments.
KVB sells pure 24 carat Assay certified Gold Coins and bars. Besides silver coins and bars.
Top Recognitions
Ranked as Best Small sized Bank, 2010 by Business World – Price Waterhouse Coopers
Dun & Bradstreet – Polaris Software Banking Award 2010 for Best Private Sector Bank in “Asset Quality”
Awarded the "Banking Technology Excellence Awards - 2009" - Special Award – Best IT Infrastructure Management, 2009 by Institute for Development and Research in Banking Technology, Hyderabad. Won the award for Best use of IT for Customer Service in Semi-Urban and Rural Areas during the previous year.
Ranked by The Banker, London among the TOP 1000 Banks of the world for the year 2009, one among 31 Indian Banks featuring in the list.
Ranked as the Best Mid-sized Bank by Business Today - KPMG for 2009.
Was rated as the Most Efficient Small Bank by Business Today - KPMG and as the No. 1 old private sector bank by Financial Express – Ernst & Young for two years in succession (2006 & 2007).
Received the CFBP Jamnalal Bajaj Award 2008 for Fair Business Practices in the Financial Sector Category. The award has been instituted by the Council for Fair Business Practices, Mumbai based on evaluation parameters like customer satisfaction, customer communication, employee motivation, social conscience, corporate social responsibility and compliance with laws.
Future outlook
The bank has in place robust risk management systems and adheres to the tenets of Corporate Governance. The bank is well-equipped to boldly take up the challenges in the industry and emerge as a top-notch one-stop-shop techie financial supermarket. KVB will continue its endeavours to bring the best of products and services to its customers to emerge as the techie bank that provides the gateway to Smart Way to bank.
For more information about the bank, its products and also to record your feedback, please log on to www.kvb.co.in
WHAT THEY SAID ABOUT KVB
Dr. Manmohan Singh on the occasion of KVB’s Platinum Jubilee celebrations in 1991, - “The performance of KVB in the matter of productivity is to be emulated by public sector banks.”
Sri P. Chidambaram during the 80th Anniversary celebrations of KVB in 1996 - “KVB is to be congratulated for its standing as one of the leading Banks in the private sector. KVB is one of the safest banks.”
Dr. C. Rangarajan, while inaugurating KVB Towers at Chennai in 2001 - “KVB can be regarded as a fine example of how a medium sized bank can effectively play its part in promoting the regional development and attending to the needs of small and medium entrepreneurs.”
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India on the occasion of the 90th Anniversary celebrations of KVB in 2006 - "KVB is almost on par with new generation private banks in technology. It has implemented Core Banking Solution across the bank including rural branches. Using this technology platform, it has enabled multiple delivery channels viz., ATM network, VISA Debit Cards, Mobile Banking and Internet Banking. All these initiatives are indeed a fitting tribute to the visionary founders of KVB."
Dr. A P J Abdul Kalam, Chief Guest at the Founders’ Day celebration in 2007 - "I would like to quote Mahatma Gandhi who had said “The difference between what we do and what we are capable of doing would suffice to solve more of world’s problems.” This has been proved by the Karur Vysya Bank by rising to the occasion, facing challenges and coming out gloriously from every situation."
Smt. Sheila Dikshit, Chief Guest at the Founders’ Day Celebrations in 2008 – “KVB being a small bank is not only a beautiful bank but also a special bank. The bank has maintained its standards over the years, helping various types of entrepreneurs – big, small and micro and thereby created a niche for itself amongst the customers.”
Sri S.S. Tarapore, Economist, Chief Guest at the Founders’ Day Celebrations in 2010 – "I salute the Founders for their vision and spirit of service which led to the setting up of the bank as also succeeding generations of the bank leadership who upheld the basic values instilled by the Founding Fathers and made this bank a role model for others to emulate."
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
n bank, headquartered in Karur
Karur
Karur is a large town and a municipality in Karur district in the Indian state of Tamil Nadu situated on the banks of Amaravati. Karur district was formed on 30 September 1995 by trifurcating Tiruchirappalli district. It is the administrative headquarters of Karur District. Karur has a very long...
in Tamil Nadu
Tamil Nadu
Tamil Nadu is one of the 28 states of India. Its capital and largest city is Chennai. Tamil Nadu lies in the southernmost part of the Indian Peninsula and is bordered by the union territory of Pondicherry, and the states of Kerala, Karnataka, and Andhra Pradesh...
. It was set up in 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar.
The bank has a branch network of 417 and an ATM network of 620 as on 28.11.2011.
All the branches are powered with CBS — Core Banking Solution.
The bank also offers Internet banking and mobile banking
Mobile Banking
Mobile banking is a term used for performing balance checks, account transactions, payments, credit applications and other banking transactions through a mobile device such as a mobile phone or Personal Digital Assistant . The earliest mobile banking services were offered over SMS...
facilities to its customers.
Technological accomplishments
KVB is one of the earliest banks in the country to achieve full networking of its branches under Core Banking Solutions, offering services through multiple delivery channels. Some of the noteworthy accomplishments of KVB are:
Any Branch Banking
Multicity Account facilities for both current and savings bank customers.
Internet Banking
On line utility bill payments and shopping facilities
On line payment of electricity bill in Tamilnadu through Net Banking
e-commerce facilities backed with the safety of Verified by VISA
Mobile Banking
Point of sale machines
Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) facilities at all branches
VISA Debit card facility with a card base of over 2 million
On-line rail and air ticket booking using KVB VISA Debit card
VISA enabled Gift and Travel Card
Access to nearly 500 KVB ATMs and over 13000 domestic ATMs under the VISA / NFS cluster and over 1 million VISA ATMs worldwide
Card to Card and Card to account transfer of funds through KVB ATMs
Payment of institutional fees through ATMs
Payment for air tickets (Kingfisher) through KVB ATMs
24 X 7 toll free professional help desk services for all ATM, Internet Banking, Mobile Banking and e-commerce transactions
Banking and Para banking services
KVB offers several deposit and loan products, tailormade to cater to the specific needs of customers
The bank offers all types of general insurance policies through a tie-up with M/s Bajaj Allianz General Insurance Company
The bank offers life insurance policies through a tie-up with M/s Birla Sun Life Insurance Company
The Bank distributes the Mutual Fund products of UTI, SBI MF, Reliance MF, Sundaram BNP Paribas MF, Birla Sunlife MF, Franklin Templeton MF and LIC MF
The Bank is a Depository Participant through NSDL and opens demat accounts
ASBA facility available
Off-line and on-line trading facility is available to the demat customers enabled through a tie-up with M/s Religare Securities Ltd and M/s IDBI Caps respectively
KVB is one of the authorized banks to open accounts under the New Pension Scheme.
KVB POS terminal facility is available at merchant establishments.
KVB sells pure 24 carat Assay certified Gold Coins and bars. Besides silver coins and bars.
Top Recognitions
Ranked as Best Small sized Bank, 2010 by Business World – Price Waterhouse Coopers
Dun & Bradstreet – Polaris Software Banking Award 2010 for Best Private Sector Bank in “Asset Quality”
Awarded the "Banking Technology Excellence Awards - 2009" - Special Award – Best IT Infrastructure Management, 2009 by Institute for Development and Research in Banking Technology, Hyderabad. Won the award for Best use of IT for Customer Service in Semi-Urban and Rural Areas during the previous year.
Ranked by The Banker, London among the TOP 1000 Banks of the world for the year 2009, one among 31 Indian Banks featuring in the list.
Ranked as the Best Mid-sized Bank by Business Today - KPMG for 2009.
Was rated as the Most Efficient Small Bank by Business Today - KPMG and as the No. 1 old private sector bank by Financial Express – Ernst & Young for two years in succession (2006 & 2007).
Received the CFBP Jamnalal Bajaj Award 2008 for Fair Business Practices in the Financial Sector Category. The award has been instituted by the Council for Fair Business Practices, Mumbai based on evaluation parameters like customer satisfaction, customer communication, employee motivation, social conscience, corporate social responsibility and compliance with laws.
Future outlook
The bank has in place robust risk management systems and adheres to the tenets of Corporate Governance. The bank is well-equipped to boldly take up the challenges in the industry and emerge as a top-notch one-stop-shop techie financial supermarket. KVB will continue its endeavours to bring the best of products and services to its customers to emerge as the techie bank that provides the gateway to Smart Way to bank.
For more information about the bank, its products and also to record your feedback, please log on to www.kvb.co.in
WHAT THEY SAID ABOUT KVB
Dr. Manmohan Singh on the occasion of KVB’s Platinum Jubilee celebrations in 1991, - “The performance of KVB in the matter of productivity is to be emulated by public sector banks.”
Sri P. Chidambaram during the 80th Anniversary celebrations of KVB in 1996 - “KVB is to be congratulated for its standing as one of the leading Banks in the private sector. KVB is one of the safest banks.”
Dr. C. Rangarajan, while inaugurating KVB Towers at Chennai in 2001 - “KVB can be regarded as a fine example of how a medium sized bank can effectively play its part in promoting the regional development and attending to the needs of small and medium entrepreneurs.”
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India on the occasion of the 90th Anniversary celebrations of KVB in 2006 - "KVB is almost on par with new generation private banks in technology. It has implemented Core Banking Solution across the bank including rural branches. Using this technology platform, it has enabled multiple delivery channels viz., ATM network, VISA Debit Cards, Mobile Banking and Internet Banking. All these initiatives are indeed a fitting tribute to the visionary founders of KVB."
Dr. A P J Abdul Kalam, Chief Guest at the Founders’ Day celebration in 2007 - "I would like to quote Mahatma Gandhi who had said “The difference between what we do and what we are capable of doing would suffice to solve more of world’s problems.” This has been proved by the Karur Vysya Bank by rising to the occasion, facing challenges and coming out gloriously from every situation."
Smt. Sheila Dikshit, Chief Guest at the Founders’ Day Celebrations in 2008 – “KVB being a small bank is not only a beautiful bank but also a special bank. The bank has maintained its standards over the years, helping various types of entrepreneurs – big, small and micro and thereby created a niche for itself amongst the customers.”
Sri S.S. Tarapore, Economist, Chief Guest at the Founders’ Day Celebrations in 2010 – "I salute the Founders for their vision and spirit of service which led to the setting up of the bank as also succeeding generations of the bank leadership who upheld the basic values instilled by the Founding Fathers and made this bank a role model for others to emulate."