Chief Minister N. Chandrababu Naidu dedicated the first ‘digital village’, facilitated by the Karur Vysya Bank (KVB), at Bandarupalli in Guntur district, remotely from the city, on Saturday.

The Chief Minister participated as the chief guest at the 101st Founders’ Day of the KVB here.

The KVB has adopted Bandarupalli, a remote village without banking facilities, and set up a digital branch there.

Speaking on the occasion, Mr. Naidu said the visionary leadership of its founders in identifying the banking needs of the local community in Karur (Tamil Nadu) and thereby earning the trust of the people has put the Karur Vysya Bank (KVB) on a firm footing.

He called upon the authorities of the KVB as also other banks to shift real-time online systems to provide the best services to the public. While appreciating the bank for contributing ₹1 crore from its CSR fund to Visakhapatnam district, the Chief Minister said other corporates should also contribute to the benefit of the community.

KVB Chairman Swaminathan traced the origin and growth of the bank during the last 100 years. Founded by M.A. Venkatarama Chettiar and Athi Krishna Chettiar with a capital of ₹1 lakh in Karur in 1916, the KVB today emerged as a major bank in the private sector with 760 branches in 18 States and three Union Territories, in addition to over 1,700 ATMs and 500 Cash Deposit Machines (CDMs).

The bank has the second largest customer base in Andhra Pradesh after TN.

MD and CEO of KVB P.R. Seshadri said the bank was providing free wi-fi facility in Bandarupalli village, facilitating online payments and digital banking and provision of micro ATM s at commercial establishments in the village.

KVB Director Suryanarayana spoke.

Ministers Ganta Srinivasa Rao and Sidda Raghava Rao and Visakhapatnam MP Kambhampati Haribabu were present.

source: http://www.thehindu.com / The Hindu / Home> News> States> Andhra Pradesh / by Special Correspondent / Visakhapatnam – December 16th, 2017