Correct Answer : Karnataka Vikas Grameena Bank
Karnataka Vikas Grameena Bank (KVGB), a Dharwad-based regional rural bank, has launched a 1,111-day deposit scheme.
Main Points :
* P Gopi Krishna, the Chairman, revealed that the 1,111-day deposit pays 5.70 percent interest to the general public and 6.20 percent to senior citizens during the introduction of the 'Vikas Siri Sampat-1111' scheme in Dharwad.
* A minimum deposit of ten thousand rupees and a maximum deposit of two crore rupees are allowed under this scheme.
* According to Gopi Krishna, customers should take advantage of the cheaper interest rate while it lasts because it is only available for a limited time.
* He said the bank's goal is to encourage consumers to conserve money, and he expects a strong response throughout the current fiscal year.
* In 2021-22, the bank's total revenue was Rs 30,750 crore. Deposits totaled Rs 17,647 crore, with advances amounting to Rs 13,103 crore.
