The Karur Vysya Bank (KVB) commenced banking business in 1916 in Karur town (Tamil Nadu). Presently, the bank has 239 branches spread across 11 states and 2 union territories. The bank has implemented core banking solution and RTGS facility in all its branches/offices covering 100% of its operations. It has introduced internet and mobile banking banking facility. The bank offers personal banking products like loans for housing, vehicles, education, overseas travel etc. corporate services like credit for working capital, trade finance and multi-city current account etc. The bank has special facilities for farmers - offering them savings account, current account and deposit facilities. It also has a KVP Green Card through which farmers are granted short term credits. For NRIs, Karur Vysya offers FCNR and NRE account facility. The bank has distribution agreements with Birla Sun Life Insurance, Bajaj Allianz General Insurance Company and Birla Sun Life Mutual Fund to distribute their products through its branches. The bank is also a clearing bank of NCDEX and holds stakes in asset reconstruction company (ARCIL) and NCDEX. The net NPA as a percentage of net advances stood down at 1.36% as on 30.09.2005 as against 2.16% a year ago. The bank plans to connect to the National Financial Switch (NFS) enabling operations through any bank ATM in the country. The bank is focussing on retail & SMEs and venturing into northern states like Punjab.
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