He emphasised on the power of technology with regards to banks while speaking at the 101 founders’ day celebration of Karur Vysya Bank in Visakhapatanamon Saturday.
The bank has adopted a remote village named Bandarupalli that had no banking facilities and set up a digital branch there. Cashless transactions are provided in the village and all the banking transactions are performed digitally.
Praising the bank’s visionary leadership,Chandrababu Naidu said, “ Identifying the banking needs of the local community in Karur (Tamil Nadu) and thereby earning the trust of the people had put the Karur Vysya Bank (KVB) on a firm footing. From a small town, it had grown into one of the major banks in the country.”
He also appreciated the bank for contributing Rs 100 crore from its CSR funds to Visakhapatnam district and advised other banks to emulate KVB.
“The bank is offering complimentary wi-fi facility in Bandarupalli village, ensuring online payments and digital banking and facility of micro ATMs at commercial establishments in the village,” P.R. Seshadri, MD and CEO of KVB.