Mangaluru: “The integral contribution of almost past 5 to 6 generations at ISRO has made MOM (Mars Orbiter Mission) a success”, said ISRO former Chairman K. Radhakrishnan on the occasion of the Karnataka Bank’s 91st Founders’ Day celebrations on February 18.
Delivering the Founders’ Day address at the bank headquarters on Wednesday, Radhakrishnan acknowledged the contribution of the founders and pioneers at ISRO and compared it to the Bank’s evolution.
Radhakrishnan remembered Dr Vikram Sarabhai and said that once Satish Dhawan who was a pioneering engineer and Indian rocket scientist walked on the path of our founder Dr Sarabhai, “Dhawan said it was Vikram’s vision, I have only executed.”
He appreciated the growth and prosperity of the bank and said, “Karnataka Bank has also been following the same working culture they have walked in the footsteps of their founders and reached great heights.” The bank has welcomed modernity and combined it with the vision of their founders and made this venture a success”, he added.
He also spoke about the MOM (Mars Orbiter Mission), speaking about the project, the challenges, the failures and the accomplishments Radhakrishnan said, “At ISRO every youth and every senior has an equal opportunity to speak – it about the team effort and transparency that has helped us achieve our goal.”
He concluded his speech with kudos to the bank and the city of Mangaluru
A grand history, great achievements!
The Mangaluru-headquartered Karnataka Bank has achieved a milestone by having 650 branches and over 6 million customers around the globe.
The bank aims to take the number of its the branches to 675 by the end of this financial year and hike the number of ATMs from 827 to 1,000 for customer convenience.
Started on February 18, 1924, in Mangaluru, the bank has seen steady growth. It initiated an aggressive branch expansion programme in 2013-14 when it opened 50 new branches. This financial year, it has so far opened 50 branches, the latest being in Shivamogga and would open 25 more, said bank CEO and managing director P. Jayaram Bhat delivering the welcome speech and the introductory address.
True to its punch-line, ‘Family Bank across India’, the management has been treating its customers, share holders and the staff as one family thereby strengthening its functioning, he added. Continuing the vision of its founders, the bank is concentrating on farmers and small scale entrepreneurs.
After its third quarter results were announced recently, Karnataka Bank aims a turnover of Rs. 80,000 crore this fiscal — Rs. 47,000 crore in deposits and Rs. 33,000 crore as advances.
It reported Rs. 317.03 crore net profits for the nine-month period ending December 31 against Rs. 229.82 crore reported on December 31, 2013. Its Current Account Savings Account ratio increased by Rs. 1,162 crore from Rs. 9,576 crore, constituting 23.97 per cent of total deposits. The total business of the bank increased to Rs. 75,137 crore from Rs. 65,688 crore.
Ananthakrishna the Chairman of Karnataka Bank presided over the function while the vote of thanks was delivered by Mahabaleshwara Bhat the general Manager of the Bank. Several prominent personalities of the region were present during the celebration.
