COIMBATORE: The Karur Vysya Bank (KVB) on Monday announced it has entered into a tie-up with Star Health and Allied Insurance to provide health insurance products to its customers.By the agreement, all the health insurance products of Star Health & Allied Insurance will be made available through all 780 branches of the Tamil Nadu-based bank, KVB President and Chief Operating Officer J Natarajan said in a statement.”Karur Vysya Bank is happy to partner with Star Health & Allied Insurance. We are sure that they will provide both cost effective insurance products and quick settlement of claims to our customers, he said.Star Health and Allied Insurance Managing Director Anand Roy said: The…
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Category: Karur Vysya Bank
Kvb To Focus On Rising Deposits Via New Initiatives | Chennai News
Chennai: Karur Vysya Bank (KVB) has rolled out a slew of initiatives such as hitting streets, expanding co-lending with fintech and NBFCs, besides partnership in the microfinance segment to increase its customer base, deposits and explore untapped lending in the digital space. The private sector bank has shifted the focus from corporate to commercial exposures in a bid to reduce the risks on bad loans. It has recruited 500 persons in the past three months for the Feet on Street channel, which aims at acquiring new current, savings bank and corporate salary accounts. “We have created a retail liability sales force and absorbing 1,300 people in the next one to one and half years. They…
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South Indian Banks’ Advances Surge by 11.4%
04 Apr 2024
2 Min Read
CW Team
South Indian banks witnessed a significant uptick in advances, marking an impressive rise of 11.4%. Karur Vysya Bank notably reported a remarkable 16% surge in advances, reflecting the…
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Karur Vysya Bank inaugurated new branch
Chennai: Karur Vysya Bank today inaugurated a new branch in KARAMBAKKUDI, Pudukottai District, Tamil Nadu. With this the total branch network of the bank increased to 839.
Dr. M. Sathya, M.B.B.S., DDVL, Chief Medical Officer, Government Hospital, Karambakkudi has Inaugurated the branch.
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About Karur Vysya Bank: The Bank has built its financials around three pillars – Growth, Profitability and Asset Quality. The bank’s total business was Rs. 1,58,357 crores as on 31.12.2023 with a deposit base of Rs. 85,665 cr. and advances at Rs. 72,692 cr. The bank posted net…
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Source: https://www.psuconnect.in/news/karur-vysya-bank-inaugurated-new-branch/42217/
Karur Vysya Bank innaugurates 800th branch in Chennai – Elets BFSI – Elets
Karur Vysya Bank innaugurates 800th branch in Chennai – Elets BFSI Elets
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Karur Vysya Bank & Rotary Club of Karur Texcity dedicate Classroom Block at the Municipal Higher Secondary School, Karur
Chennai: The new school block at the Municipal Higher Secondary School at Karur was dedicated to the public at a function held in the school on 24th October, 2021. Thiru V Senthil Balaji, Hon’ble Minister of Electricity, Prohibition & Excise, Government of Tamil Nadu, dedicated the classroom block.
Construction of the classroom block was supported by Karur Vysya Bank under its CSR initiatives. Rotary Club of Karur Texcity collaborated with the Bank in this project. The cost of project was Rs. 2.78 Crores. KVB has directly donated a sum of Rs. 2.06 Crores and Rs. 0.24 Crore through Rotary Club of Karur Texcity and Rotary directly donated Rs. 0.48 Crore towards the project. In all,…
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Reserve Bank Of India Imposes Rs 30 Lakh Penalty On Karur Vysya Bank
The RBI on Friday said it has imposed a penalty of Rs 30 lakh on Karur Vysya Bank for non-compliance with certain provisions related to fraud classification and reporting by commercial banks.In a statement, the Reserve Bank said a Select Scope Inspection of the bank was conducted by it from Feb. 21, 2022, to March 4, 2022.An examination of the SSI report and all related correspondence pertaining to the same revealed that the bank failed to report a few accounts as frauds to the RBI within a week of the respective Joint Lenders’ Forum decisions to do so, the central bank said.In furtherance to the same, a notice was issued to Karur Vysya Bank, advising it to show cause as to why a penalty…
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Karur Vysya Bank Reports July-Sep Quarter Net At Rs 378.45 Cr
The bank had posted a net profit of Rs 696 crore in the year-ago quarter. Private sector Karur Vysya Bank on Tuesday reported a profit after tax for the July-September quarter at Rs 378.45 crore.The Tamil Nadu-based bank had registered a profit after tax at Rs 250.23 crore during the corresponding quarter of previous year.For the half year ending September 30, 2023, the net profit of the bank stood at Rs 737 crore, from Rs 479 crore registered in the corresponding period of last year.Total income from operations during the quarter under review grew to Rs 2,335.97 crore, from Rs 1,821.05 crore registered a year ago.For the year ending March 31, 2023 the total income from operations was…
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Karur Vysya Bank’s new branch in Pudukottai
CHENNAI: Karur Vysya Bank on Monday inaugurated a new branch in Karambakkudi, Pudukottai district. With this, the total branch network of the bank increased to 839. Dr M Sathya, chief medical officer, Government Hospital, Karambakkudi inaugurated it, as per a release. The bank’s total business was Rs 1,58,357 crore as on December 31, 2023 with a deposit base of Rs 85,665 cr and advances at Rs 72,692 cr. The bank posted net profit of Rs 412 crore in Q3 2023-24. Other key financial ratios include net NPA – 0.42 per cent, NIM – 4.32 per cent, and PCR – 94.81 per cent in the said quarter.
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Source: https://www.dtnext.in/amp/news/business/karur-vysya-banks-new-branch-in-pudukottai-779804
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Noida Authority frees 18 acres of land worth Rs 308 crore from land mafias
The Noida Authority had identified multiple sectors, villages, and areas specially along the Noida Expressway, where land mafias had encroached upon the government land and were attempting to sell plots to the gullible public. The anti-encroachment drive was conducted in villages such as Sorkha Zahidabad, Salarpur, Asadullapur, Mohiyapur, Sadarpur, Mamura, Garhi Samastipur, Gulawali and Salarpur Khadar.
Source: https://www.moneycontrol.com/