KGB lends ₹870 mn under covid-specific schemes

The second-largest regional rural bank in the country focuses on growth, consolidation and improvement in its asset quality:

- mehul

Shreenath Joshi points out that Karnataka Gramin Bank, in spite of the pandemic, has been able to sustain its operations and record growth in business

Karnataka Gramin Bank has a vast footprint in the remote rural areas of Karnataka, with 1134 branches spread across 22 districts, covering 66% of the state. The bank has close to 4900 employees to cater to all the financial needs of all the segments of the society, termed as priority sector. Though the emphasis is primarily on agriculture and MSMEs, as a prudent measure, the bank has enlarged its operations to retail and non -priority sector segments as well, in order to diversify the credit portfolio.

11.24% BUSINESS GROWTH

Karnataka Gramin Bank is the first RRB to reach the milestone of a total business of Rs500 billion, as on 31 March 2020. Says Shreenath Joshi, Chairman of the bank: “Despite covid impact in FY20-21, we have witnessed a considerable growth of 13.83% under our credit portfolio when the credit offtake was very low in the industry. The overall business also registered a healthy growth of 11.24% to reach a level of ₹558.65 billion, comprising credit of ₹247.97 billion and deposits of ₹310.68 billion.”

COVID RETAIL, KCC