Mangaluru: Karnataka Vikas Grameena Bank (KVGB) has been adjudged as the Best Regional Rural Bank (RRB) under the "Regional Rural Banks Category", in recognition of its significant initiatives in the sphere of Digital Financial Services in response to Atmanirbhar Bharat by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) Mumbai. RBI, Regional Director, R Gurumurthy handed over the Award to P Gopi Krishna, Chairman of the Bank at Banagaluru on Monday.
Regional Director, Reserve Bank of India (RBI) , R Gurumurthy while appreciating the efforts put in by Karnataka Vikas Grameena Bank in digitalization said that the country is moving towards Cashless economy and any efforts are going on in the country towards digitalization which will going to help the country to keep pace with the fast-changing world he said. He has urged villagers to make use of digitised banking activities for speedy and safe transactions.
Brij Mohan Sharma, Executive Director Canara Bank, said that creating a digital environment is now a priority for RRBs also and time is not far when digitalization will change the face of the rural economy.
Niraj Kumar Verma, Chief General Manager, NABARD said that NABARD is keenly watching the progress and involvement of Regional Rural Banks (RRBs) and extending timely guidance and support. The RRBs, over the years have made impressive strides on various business indicators including digitalization.
Speaking on the occasion, KVGB chairman, P Gopi Krishna said Over a span of six to seven years, the number of banking outlets in villages has increased many fold and because of that most of the villagers are having basic savings bank deposit account of their own and agriculture credit off take has almost doubled. The focus of the government on financial inclusion and digitalization specially after demonatisation has made very big impact on unbanked masses towards banking services. Now Villagers are also well acquainted with cash alternatives such as debit/credit cards, mobile/internet banking, Aadhaar payments etc. he said.
He also said that more than 40 villages have been converted into 100% digital villages and because of the best effort put in by the Bank the rural people have round-the-clock access to banks due to Internet banking, Mobile banking, Micro ATMs, AEPS (Aadhar Enabled Payment Systems), IMPS and UPI . Digitalization has also benefitted villages by facilitating cashless transactions and in this context, KVGB’s contribution has become significant in achieving the national initiative to digitize rural banking he added.
B Chandrashekhar Rao, General Manager, Canara Bank and convener of SLBC and others were present on the occasion.