₹124.89 crore profit for KVG Bank
The Hindu
Karnataka Vikas Grameena Bank (KVGB) has registered an operating profit of ₹124.89 crore apart from registering a growth of ₹1,549 crore over the last financial year.Chairman of KVG Bank P. Gopikrishn
Karnataka Vikas Grameena Bank (KVGB) has registered an operating profit of ₹124.89 crore apart from registering a growth of ₹1,549 crore over the last financial year. Chairman of KVG Bank P. Gopikrishna said here on Monday that it has emerged stronger with its focus on rural development, agriculture, MSME and digitalisation initiatives and reached a business level of ₹27,818.00 crore. Mr. Gopikrishna said that the gross income of the regional rural bank had increased from ₹1,492.84 crore to ₹1,589.53 crore. During the current fiscal, the total expenditure had come down to ₹1,583.03 crore as against ₹2,097.80 crore during the last fiscal. “After making a provision for ₹118.39 crore towards tax and other expenditure, the bank has shown a net profit of ₹6.50 crore. The bank’s net worth has now risen to ₹1,192.62 crore,” he said.The election authorities are gearing up for the counting of votes cast in the simultaneous elections to Lok Sabha and Assembly seats in Andhra Pradesh, scheduled to be held on June 4. The Collectors and Election Officers of Visakhapatnam, Anakapalli and Alluri Sitharama Raju (ASR) districts said on May 23 (Thursday) that their teams were ready for the counting of votes.
Responding to the prolonged water scarcity, the residents of the area took to the streets in protest on Wednesday. The protest, which drew attention to their plight, stopped only after the intervention of the police. It was not until 1.30 p.m. that a 4000-litre tanker was finally delivered by BWSSB, providing relief to the water-starved residents.