Karur Vysya Bank (KVB), a private sector lender, has opened its first ultra small branch at Balarajapuram village in Karur district in the state of Tamil Nadu. This new branch will provide basic services such as opening of savings account, recurring deposit account, payment and receipt of cash etc. Further, the bank is planning to open 28 ultra small branches this year and 24 more in the next financial year.
Karur Vysya Bank is among six old generation private sector banks that have been identified by the Reserve Bank of India (RBI) to implement Speed Clearing at Mumbai.
