Kaveri Grameena Bank is a regional rural bank established under Regional rural Banks’s Act 1976 having joint ownership with Government of India(GOI), State Bank of Mysore and Government of Karnataka. It was founded on November 1st, 2012 in collaboration with erstwhile bank – Cauvery Kalpatharu Grameena Bank, Visveshvaraya Grameena Bank as well as Chikmagalur-Kodagu Grameena Bank.
The bank is permitted to serve all kinds of banking business and caters its operational services in 502 Branches of 10 districts located at southern states i.e. Ramangara, Hassan, Mysuru, Rural and Urban Bengaluru, Chamarajanagara, Tumakuru, Kodagu, Mandya and districts of Chikmagalur. It is public sector bank headquartered in Mysore and sponsored by State bank of Mysore.
The bank caters to the needs and all the requirements of 1/3rd population of state of Karnataka covering business class, farming community and rural population. The branches of Kaveri Grameena bank operates under Core Banking Solutions having manpower of approx. 1800 personnel who serves timely and effectively to the needs of the customers. This bank has brought many new and innovative products and schemes to fulfil the customer needs according to their fund based and non-fund based requirements.
The bank has been appreciated and rewarded for its speedy growth and taking initiatives in forming, cherishing and credit creating Self-help groups which are credit related. It also provides financial assistance to those who could not offer security for availing bank loans by forming and linking joint liability groups.
A drastic growth in business has been achieved by the bank during the last financial year, INR 13044.91 Crores -23.60% approx. deposits have grown by 29.35 % with total profits witnessing a 16.29% growth to reach Rs. 68.81 crores. Bank has appointed business journalists in villages for reaching their customers easily. It has also implemented Financial Inclusion. The bank is proactively involved in the Government of India much admired programmes of Aadhar based payment of scholarships/subsidies/pensions etc. This is the first Grameena bank in Karnataka which introduced internet banking and mobile banking, RTGS, NEFT, MobileATM, microATMs, Debit cards, RuPayATM and other delivery channels.
All the transactions are secured through biometric authentication and safeguards public money against any casualty. To process the speedy transactions, access to high bandwidth connectivity is provided to all the branches. CTS system is being used for clearing and proper training is provided to employees for efficient and effective work environment.