Karnataka Bank Limited is an Indian private sector bank based in

Mangalore Mangalore (), officially known as Mangaluru, is a major port city of the Indian state of Karnataka. It is located between the Arabian Sea and the Western Ghats about west of Bangalore, the state capital, 20 km north of Karnataka– ...

. It is an 'A' Class Scheduled Commercial Bank with a network of 898 branches, 1 extension counter, 885 ATMs, 563 cash recyclers and 546 e-lobbies/mini e-lobbies across 22 states and 2 union territories. It has 8,519 employees and over 11 million customers throughout the country. Its shares are listed on the NSE and BSE. The tagline of the bank is "Your Family Bank Across India". SEBI profile, pg. 38 Karnataka Bank Limited has adopted

core banking Core banking is a banking service provided by a group of networked bank branches where customers may access their bank account and perform basic transactions from any of the member branch offices. Core banking is often associated with retail ba ...

, internet banking and has established its "MoneyPlant" (885 ATMs, 563 cash recyclers and 546 e-lobbies/mini e-lobbies) system across the country.

History

Karnataka Bank Limited was incorporated on 18 February 1924, and commenced business on 23 May 1924. Its founders established it at

, a coastal town in the

Dakshina Kannada Dakshina Kannada district is a district of Karnataka state in India, with its headquarters in the coastal city of Mangalore. It is part of the larger Tulu Nadu region. The district covers an area nestled in between the Western Ghats to its east ...

district of

Karnataka Karnataka (; ISO 15919, ISO: , , also known as Karunāḍu) is a States and union territories of India, state in the southwestern region of India. It was Unification of Karnataka, formed on 1 November 1956, with the passage of the States Reor ...

. SEBI profile, pg. 34 Among the founders, who created the bank to serve the

South Canara South Canara was a district of the Madras Presidency of British India, located at . It comprised the towns of Kassergode and Udipi and adjacent villages, with the capital in Mangalore city. South Canara was one of the most heterogeneous areas ...

region, was B. R. Vysaray Achar. K. S. N. Adiga served as the chairman from 1958 to 1979. In the 1960s Karnataka Bank Limited acquired three smaller banks. In 1960 Karnataka Bank Limited acquired the Sringeri Sharada Bank, which was established in 1942 had four branches. Four years later, Karnataka Bank Limited took over Chitradurga Bank (also known as Chitladurg Bank), which was established in 1868 and was the oldest bank in

Mysore State Mysore State, colloquially Old Mysore, was a state within the Dominion of India and the later India, Republic of India from 1947 until 1956. The state was formed by renaming the Kingdom of Mysore, and Bangalore replaced Mysore as the state's c ...

. In 1966, Karnataka Bank Limited took over Bank of Karnataka. Bank of Karnataka was established in 1946 and had opened one branch in

Belgaum Belgaum ( ISO: ''Bēḷagāma''; also Belgaon and officially known as Belagavi) is a city in the Indian state of Karnataka located in its northern part along the Western Ghats. It is the administrative headquarters of the eponymous Belagavi ...

in 1947. At the time of this acquisition, Bank of Karnataka had 13 branches. In September 2003, the bank shifted its head office from Kodialbail to

Kankanady Kankanadi or Kankanady is one of the major upscale commercial and residential localities of Mangalore city. It houses many highrise buildings and transforming into a highrise hub of Mangalore CBD region along with its major counterparts like Be ...

. SEBI profile, pg. 35 In 2021, Karnataka Bank Limited operationalized its wholly owned non-financial subsidiary KBL Services Limited with its registered and head office at

Bangalore Bangalore (), officially Bengaluru (), is the capital and largest city of the Indian state of Karnataka. It has a population of more than and a metropolitan population of around , making it the third most populous city and fifth most ...

Services

The branches are available in 22 Indian states and 2 Union Territories. In August 2008, the Karnataka Bank Limited introduced Quick Remit, a facility to make money transfer easy for

Non-Resident Indians Overseas Indians (IAST: ), officially Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) are Indians who live outside of the Republic of India. According to the Government of India, ''Non-Resident Indians'' are citizens of Indi ...

living in Canada, United States, and the UK. The bank also runs a 24-hour Internet banking service called MoneyClick. Karnataka Bank Limited provides business and personal banking products and services in India. The bank operates in four segments: Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. It accepts savings and current accounts, cash certificates, fixed and cumulative deposits, non-resident rupee accounts, ordinary non-resident accounts, and foreign currency accounts; and offers loan products, such as vehicle, home, education, personal, MSME, mortgage, women entrepreneur, gold, and other loans, as well as loans against property and fixed deposits. The bank also provides debit, credit, gift, deposit only, image, and travel cards; life, general, and health insurance products; investments services; and remittance and other services. In addition, it offers forex services, which include pre and post-shipment, export collection bills, export LC advising, inward remittance facility, import letter of credit, import bill collection, buyer's credit, and outward remittances. Additionally, it offers various loans for agriculture; and other services, such as Internet banking, mutual funds, demat services, locker facility, and funds transfer services.

Digital banking

* KBL Mobile Plus * KBL mPassbook * BHIM KBL UPI App * KBL POS Manager * KBL MoneyClick Internet Banking

C.E.O & M.D/ Chairman

* B. R. Vyasaraya Achar (1924-1958) *

K. Suryanarayana Adiga Kakkunje Suryanarayana Adiga (5 November 1914 – 23 April 1989) was an Indian lawyer and politician who served as a member of the Mysore Legislative Council from 1966 to 1971. He was the Chairman of Karnataka Bank from 1958 to 1979. He is pat ...

(23 November 1958 – 15 February 1979) * K. N. Basri (15 February 1979 – 19 February 1980) * P. Raghuram (16 June 1980 – 15 June 1985) * P. Sundar Rao (11 September 1985 – 10 September 1989) * H. M. Rama Rao (11 January 1990 – 11 January 1993) * U. V. Bhat (28 June 1993 – 27 June 1995) * M. S. Krishna Bhat (12 July 1995 – 11 July 2000) * Ananthakrishna (13 July 2000 – 11 July 2009) *

Polali Jayarama Bhat Polali Jayarama Bhat (born 14 November 1951) was the managing director (MD) and chief executive officer (CEO) of Karnataka Bank, a major Indian commercial bank in the private sector. Early life Bhat born in Mangalore, Dakshina Kannada. He is ...

(12 July 2009 – 10 April 2017) * M. S. Mahabaleshwara (15 April 2017- )

Controversy

Karnataka Bank reported Rs 285 crore fraud to Reserve Bank of India by DHFL, Religare Finvest, Fedders Electric and Engineering Ltd and Leel Electricals Ltd.

References