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Post the liberalization of many sectors in 1991, many foreign companies forayed into the Indian market. Many sectors attracted a lot of foreign investments. Banking was also one of the sectors. Since 2 decades, banking has become a level playing field for public and private sector banks and with digital banking, the competition has become fiercer.
With the internet it is possible to transfer funds online, purchase goods and do different transactions. Karur Vysya bank which is a private sector bank has also introduced net banking. One can transfer money easily if the payer knows the Karur Vysya bank IFSC code.
Karur Vysya bank is based out of Karur in Tamil Nadu. It is a very old bank and has got an old History to it. With the internet geographical barriers have got closed now. Karur Vysya bank has many branches all across India. To know the nearest bank branch, one can again take the help of internet. By putting the keyword Karur Vysya bank IFSC code one can easily get to know the nearest branch in his/her town.
Over the years the bank has won numerous awards because of it’s hard work and persistence. Recently it was awarded in ‘Finovati 2016 Conference and awards’. The award was given for it’s ‘Contactless card payment’ initiative. This same year the bank also won ‘Kamikaze B2B awards and Customer Fest 2016’ in Mumbai.
The bank has got the strong geographical presence in Andhra Pradesh. It is the well known bank for its quick service and customer-centric approach because of which it is regarded as best private sector bank in the banking domain. The bank has given its due share to the society by contributing INR 1crores to chief minister relief fund during the year 2009 when there floods in Andhra Pradesh. The bank has more than INR 7000 crores business in Andhra Pradesh alone.
Talking about it’s contribution sectors then the bank has got rewards for best small-sized bank a few years back. It actively gives loans to SME’s and hence is contributing to the ‘Startup India’ initiative taken by the government.
The bank follows all RBI guidelines. It has got good financial stability and a steady base of customers. The bank strives to keep all the stakeholders happy. For it’s employees the bank gives and ex-gratia amount of INR 50000 every year.
For it’s customers also the bank provides instant service and tries to keep them happy. There are internet and mobile banking service offered by the bank. There are different products like KVB prestige SB account, Yuvashakti SB account, Fleximobile car loan etc which helps the bank in serving customers with different needs. This bank has got a wide range of products like different types of account, Loans, Insurance, cards etc. Through it’s hard work the bank is now only the third bank to venture into retail sale of silver bars.
On the technology front, the bank also offers the facility of cash deposit machines. This technology has been adopted by all leading players in the banking sector of India.