Latest News on Karur Vysya Bank
MYLAPORE TIMES – Local bank gifts battery-powered cart to facilitate senior citizens’ visits to Kapaleeswarar Temple, prompting questions about the fate of similar carts previously donated by a private firm.
Karur Vysya Bank has donated three battery-driven carts to be used in temple zones, with one of the carts being allocated to the Sri Kapali Temple zone in Mylapore. The official launch of the donation took place on a Saturday morning, attended by state minister Sekar Babu, who is in charge of the HR&CE department responsible for managing temples, as well as senior officers from the bank. The cart is intended to facilitate easy access to the temple for senior citizens and people with disabilities, allowing them to travel from the Mada Streets zone to the temple.
This donation is not the first of its kind, as Sundaram Finance had previously donated similar carts to the temple for the same purpose a few years ago. However, those carts were only used for a short period before they stopped being utilized. Temple officials at the time cited a lack of staff to operate the carts as the reason for their disuse. Interestingly, one of the carts donated by Sundaram Finance was recently spotted inside the campus of Sri Karpagambal Kalyana Mantapam on Venkatesa Agraharam Street, Mylapore, suggesting that it may have been repurposed or stored away.
The donation by Karur Vysya Bank aims to provide a convenient and accessible way for senior citizens and people with disabilities to visit the Sri Kapali Temple. The battery-driven cart is expected to make it easier for these individuals to navigate the temple zone, promoting inclusivity and accessibility. The bank’s contribution is a positive step towards supporting the community and enhancing the overall experience of visiting the temple. With the formal launch of the cart, it is hoped that it will be well-utilized and maintained, providing a valuable service to those who need it.
The community is likely to benefit from this donation, and it may also encourage other organizations to follow suit and contribute to making public spaces more accessible. The involvement of state minister Sekar Babu and senior bank officers in the launch event highlights the importance of this initiative and the commitment to supporting the community. Overall, the donation of the battery-driven cart is a welcome move and is expected to have a positive impact on the community.
Karur Vysya Bank announces board meeting to discuss key financial decisions – Capital Market Updates
Karur Vysya Bank has announced that it will be holding a board meeting on November 10, 2022. The meeting is scheduled to discuss and consider various business proposals, including the approval of the bank’s financial results for the quarter ended September 30, 2022.
During the meeting, the board of directors will review the bank’s performance over the past quarter, including its revenue growth, profitability, and asset quality. The bank will also discuss its plans for the future, including strategies for expanding its business and improving its financial performance.
Karur Vysya Bank is a leading private sector bank in India, with a strong presence in the southern region of the country. The bank has a long history of providing high-quality banking services to its customers, including deposits, loans, credit cards, and other financial products.
The bank has been working to expand its business and improve its financial performance in recent years. It has been investing in digital technologies and other initiatives to improve its customer service and increase efficiency. The bank has also been working to reduce its non-performing assets (NPAs) and improve its asset quality.
The upcoming board meeting is an important event for Karur Vysya Bank, as it will provide an opportunity for the bank’s board of directors to review its progress and make strategic decisions about its future. The meeting is also expected to be closely watched by investors and analysts, who will be looking for insights into the bank’s financial performance and future plans.
Overall, the board meeting of Karur Vysya Bank is an important event that will provide valuable insights into the bank’s financial performance and future plans. With its strong presence in the southern region of India and its commitment to providing high-quality banking services, Karur Vysya Bank is well-positioned for growth and success in the future.
In recent years, Karur Vysya Bank has been focusing on increasing its digital presence and improving its customer service. The bank has introduced various digital products and services, including mobile banking and online banking, to make it easier for customers to access its services. The bank has also been investing in data analytics and other technologies to improve its risk management and operational efficiency.
The bank’s financial performance has been improving in recent years, with its net profit increasing by 15% in the quarter ended June 30, 2022, compared to the same period in the previous year. The bank’s asset quality has also been improving, with its gross NPA ratio decreasing to 4.15% in the quarter ended June 30, 2022, compared to 5.34% in the same period in the previous year.
Apply for Karur Vysya Bank Platinum Credit Card Online in 5 Easy Steps
The Karur Vysya Bank (KVB) offers a platinum credit card that provides a unique blend of lifestyle perks, rewards, and travel rebates, making it a competitive offering in the market. The card is designed for individuals seeking to boost their everyday savings and comes with benefits such as accelerated reward points, welcome bonuses, and fuel surcharge waivers. To apply for the KVB platinum credit card, individuals can visit the bank’s official website and follow a five-step process:
1. Visit the website and select the platinum credit card option
2. Enter personal details such as name, mobile number, and email ID
3. Upload required documents such as PAN card, ID proof, and income documents
4. Verify and approve the application
5. Receive an acknowledgement number and wait for the card to be dispatched
Alternatively, individuals can also apply for the credit card in person at their nearest KVB branch. The basic eligibility criteria for the KVB platinum credit card include being between 21 and 65 years old, having a stable income, and being a resident of India. The key features and benefits of the card include earning 2 reward points for every ₹150 spent, a welcome bonus of 500 points, and a 1% fuel surcharge waiver. The annual fee of ₹999 can also be waived off on reaching specific annual spending targets.
The KVB platinum credit card is a valuable blend of savings, rewards, and convenience, making it suitable for frequent travelers and smart spenders. Individuals can refer to the bank’s official website for more details and discuss their queries with the dedicated customer support team. It’s essential to note that the eligibility criteria, features, and benefits may be subject to change, and individuals should always refer to the bank’s official website for the most up-to-date information.
The article also comes with a disclaimer that Mint has a tie-up with fintechs for providing credit, and applying for credit comes with risks such as high interest rates and hidden charges. It’s advised that investors discuss with certified experts before taking any credit. Overall, the KVB platinum credit card is a unique financial product that provides a range of benefits and rewards, making it a competitive offering in the market.
Stock Market Updates of Karur Vysya Bank
Recent Updates
Karur Vysya Bank marked a significant milestone by launching 46 new branches in the 2024-25 fiscal year, enhancing its presence and services across the country.
Karur Vysya Bank, a Tamil Nadu-based lender, has expanded its network with the addition of 46 new branches across India. This brings the total number of branches to 888, as of the financial year 2024-25. The bank’s recent branch openings in Kumbakonam, Visakhapatnam, Coimbatore, and Alapakkam, Chennai, are expected to cater to customers’ basic banking needs, as well as provide a range of banking products and financial services, including retail, institutional, and consumer lending.
The bank has also made significant progress in expanding its ATM network, now with over 2,200 pan-India. As of December 31, 2024, the bank’s total business stood at ₹1,81,993 crore, with a deposit base of ₹99,155 crore and advances of ₹82,838 crore.
This expansion marks another major milestone for Karur Vysya Bank, which has demonstrated its commitment to growing its presence while providing a wider range of services to its customers. With its increased reach and capacity to deliver a broad spectrum of banking products and financial services, the bank is well-positioned to meet the evolving needs of its customers and clients across India.
Karur Vysya Bank officially inaugurates its latest branch in Lingam Nagar, Tiruchi, further expanding its footprint in the region.
Karur Vysya Bank (KVB) has opened a new branch at Lingam Nagar on Kuzhumani Main Road, near Woraiyur, in the city. The branch was officially inaugurated by Kannan, the Executive Officer of Sri Boologanatharswamy Temple, on Monday. This new branch adds to the bank’s growing network, which has seen significant expansion in recent years.
According to a press release from the bank, by 2024-25, KVB had added 42 new branches, bringing the total number of its branches to 884. This expansion demonstrates the bank’s commitment to increasing its presence and reach in the region. The new branch is likely to benefit the local community by providing easier access to banking services, including deposits, withdrawals, and other financial transactions.
The opening of the new branch is a significant milestone for the bank, which has been serving the community for over 100 years. KVB has a rich history of providing a range of banking services to individuals, small and medium enterprises, and corporate clients. The bank’s commitment to expansion and growth is a testament to its vision of being a leading bank in the region.
The increasing number of branches is expected to bring numerous benefits to the community, including job creation, economic growth, and improved access to financial services. As the bank continues to expand its network, it will be interesting to see how it leverages technology to enhance customer experience, improve operational efficiency, and drive growth. Overall, the opening of the new branch is a significant step forward for KVB, and it will be exciting to see how the bank continues to evolve in the coming years.
Karur Vysya Bank slapped with ₹160 crore demand notice from IT Department
Karur Vysya Bank has received a notice from the Income Tax Department’s assessment unit regarding a tax demand of ₹160.33 crore for the assessment year 2023-24, which pertains to the financial year 2022-23. The demand is due to certain additions and disallowances made by the tax authorities. The bank has disclosed that it is currently preparing to file an appeal with the first appellate authority to challenge the disallowances.
The bank is confident that it has sufficient legal grounds to defend the demand and is hoping that the appeal will be successful, which would result in the demand being set aside. Despite the notice, the bank has assured that the demand will not have any impact on its financial, operational, or other activities.
The bank’s statement suggests that it is taking a proactive approach to address the issue by preparing an appeal and is optimistic about the outcome. This approach demonstrates the bank’s commitment to transparency and its ability to manage challenges in a responsible manner. The notice from the tax authorities is a common occurrence for any business, and the fact that the bank is taking steps to address it ensures that it can continue to operate smoothly and serve its customers without disruption.
The news about the tax demand has been shared publicly by the bank, providing investors and stakeholders with transparency and disclosure regarding the issue. This shows that the bank is committed to keeping its stakeholders informed about material developments and is willing to address any concerns they may have. Overall, the news does not suggest any significant concerns for the bank’s financial performance or stability, and it is likely to be business as usual for the bank.
Shri Sankar Balabhadrapatruni takes up the role of Executive Director at Karur Vyasa Bank, assuming leadership responsibilities with great enthusiasm and commitment.
Shri Sankar Balabhadrapatruni has been appointed as the Executive Director of Karur Vysya Bank for a three-year term, effective March 12, 2023. The appointment was approved by the Reserve Bank of India under Section 35B of the Banking Regulation Act, 1949. With over 35 years of experience in banking, Sankar has held significant leadership roles at the State Bank of India (SBI) and has a strong track record in managing stressed assets. As Deputy Managing Director, he has successfully managed Rs 82,000 crores worth of Non-Performing Assets (NPAs).
Sankar’s expertise spans various areas, including Small and Medium Enterprise (SME) business growth, risk management, internal auditors, and branch operations. His leadership experience will undoubtedly benefit Karur Vysya Bank, as he works to enhance the bank’s performance and growth. This appointment is a testament to Sankar’s capabilities and commitment to the banking sector.
As the new Executive Director, Sankar will be responsible for providing strategic guidance and oversight to the bank’s operations. His leadership will be crucial in driving the bank’s growth, improving risk management, and enhancing customers’ experience. With his extensive experience and expertise, Sankar is well-positioned to make a positive impact at Karur Vysya Bank.
Karur Vysya Bank has launched its services in three new locations, further expanding its extensive network.
Karur Vysya Bank (KVB) has launched three new branches in Andhra Pradesh, Karnataka, and Tamil Nadu. The branches were inaugurated on March 11, 2025, and will offer a range of banking services, including accounts, deposits, and loans. This is part of the bank’s expansion plans, which saw the addition of 38 new branches during the 2024-25 financial year. With these new branches, KVB now has a total of 880 branches across the country.
The three new branches, located in Ongole (Andhra Pradesh), Bangalore (Karnataka), and Bagayam (Tamil Nadu), will provide a comprehensive range of banking products and services, including retail and commercial banking, insurance products, and more. The branches are equipped with advanced facilities, including ATMs, Cash Deposit Machines, and Passbook printers, to make it convenient for customers to conduct their banking transactions.
KVB also offers its customers internet banking and mobile banking facilities, including its mobile app, KVB DLite, which provides a range of financial and non-financial services. The app has recently been upgraded with new customer-friendly features, making it easier for customers to access their accounts and conduct transactions on-the-go. The bank’s commitment to innovation and customer convenience is evident in its efforts to provide seamless banking experiences to its customers. With the launch of these new branches, KVB is strengthening its presence in the Indian banking landscape and catering to the growing demand for banking services in the region.