The Hindu Business Line : Karnataka Vikas Bank mops up Rs 100-cr deposits in 15 days

Mangalore, Feb. 19 It is often said that lending a personal touch to interactions with customers plays an important role in any sector. This point was once again proved, going by the experience of Dharwad-headquartered Karnataka Vikas Grameena Bank (KVGB), a regional rural bank sponsored by Syndicate Bank.

The regional rural bank, which began door-to-door campaign to open accounts on February 3, was able to achieve around Rs 100 crore of deposits in a span of 15 days. When many bigger commercial banks struggle to mop-up deposits, this seems rather unusual.

The secret of their success is simple: the bank’s chairman and other top executives visited the doorsteps of the rural people.

Mr K.P. Muralidharan, Chairman of KVGB, told Business Line on Wednesday that the bank has been able to mobilise around 4,500 accounts in the last 15 days with around Rs 100 crore of deposits. In fact, the bank could mobilise nearly 100 accounts with amounts to the tune of Rs 3 crore on February 3 itself.

The bank’s top executives approaching people at the micro level highlights the special care the bank is giving to its customers, said Mr Ullas Gunaga, an official in KVGB.

This is the main reason that attracts people to us, he said.

Mr Siddanna Halkatti, a farmer from Bagalkot region, who opened an account on Wednesday, said that it is for the first time that a bank chairman is coming to his doorsteps.

“Such personal interest has made me open an account with the bank. Moreover, they consider us a family member when we visit their premises,” he said.

“I can see the joy customers experience when we visit them in their premises. Personally, I’ve visited more than 250 customers in various places,” Mr Muralidharan said.

More Stories on : Fixed Deposits | Regional Rural Banks | Karnataka

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