Commercial banking in India could boast of a history of about 200 years. Though one could trace the history of banking from the 19th century, the beginning of last century saw the birth of many banks in certain parts of the country set up by people with vision and national spirit.
The Karur Vysya Bank Limited popularly known as KVB was such one to be set up in 1916 by two great visionaries and illustrious sons of Karur, the Late Shri M A Venkatarama Chettiar and the Late Shri Athi Krishna Chettiar to inculcate savings habit and to provide financial assistance to traders and small agriculturists in and around Karur, a textile town in Tamil Nadu.
Though the Bank had a very humble beginning with Rs.1 lakh Capital, the Bank had borne myriad changes and challenges in the past decades so fruitfully and profitably to emerge as one of the leading banks in India with strong and healthy fundamentals.
The Bank is professionally managed and guided by the Board of Directors drawn from different fields with vision, experience, knowledge and business acumen.
Though it had inherited a regional flavour to start with, it has now spread its wings far wide with over 285 branches in 13 States and 2 Union Territories. The Bank has been conducting its affairs with meticulous care to be in conformance with all prudential norms and exacting statutory regulations.
KVB is one of the early banks to adhere to the norm of Capital Adequacy Ratio stipulated by RBI right from its introduction. The Bank has been maintaining a healthy Capital Adequacy Ratio of over 15% as against the mandatory norm of 9% prescribed by the RBI, which will take care of future asset growth.
1991 – 5,00,000 No. of equity shares issued at par in rights in prop. 1:3.
1993 – 45,000 Bonus equity shares issued in prop. 1:1.
1994 – 20,00,000 bonus shares issued in prop. 1:1.
2002 – Karur Vysya Bank Ltd has informed that the Chairman and Chief Executive Officer of the Bank A D Navaneethan has laid down of office after the close of office hours on May 31,2002. In terms of the approval of Reserve Bank of India, P T Kuppuswamy has assumed the charge as Chairman and Chief Executive Officer of the Bank on June 01, 2002 and he would hold the office for a period of 3 years.
2003 – KVB ties up with UTI to unveil a shared ATM network across the country.
- Shri G Sarangan gives his resignation as the Director of the Bank.
- Mr. K S Ramabadran and Mr. M K Venkatesan have been appointed as Directors w.e.f. November 26, 2003.
2004 – Shri K P Kumar was appointed as a director of the bank with effect from December 29, 2003 and the said new Director of the bank is holding Nil shares of the bank.
- Karur Vysya Bank Ltd has informed that Shri A K Praburaj and Shri G Venkatesam have resigned as Directors of the Bank with effect from March 08, 2004 and April 01, 2004 respectively
2008 – Karur Vysya Bank Ltd has appointed Shri A.S. Janarthanan as Part-time Non-executive Chairman of the Board of Directors for a period of 2 years.
2009 – Karur Vysya Bank Ltd has appointed Shri. S. Ganapathi Subramanian as an Additional Director of the Bank.
- Karur Vysya Bank has been conferred the Gold CIO award in the more than Rs. 1,000-crore category of the Enterprise Connect Awards 2009 instituted by Cybermedia India Online-
Dataquest and the award was received by S. Sekhar, CIO of the bank, at a function organized in Mumbai on August 28.
Popularity: 1% [?]
