KBS Local Area Bank

Profile The local area bank concept was introduced by RBI in 1996. KBSLAB, licensed by Reserve Bank of India was established on February, 28th, 2001. The bank operates in 4 of the least developed districts of Mahabubnagar, Gulbarga, Yadgir and Raichur in Andhra Pradesh and Karnataka states. The head office is in Mahabubnagar. The bank is promoted by BASIX Group and is the only commercial bank of the country with microfinance as its core business. Bank has 59 Business correspondent locations Vision BY 2014, TO BE THE PREFERRED MICRO FINANCE BANK, PROMOTING LIVELIHOODS OF 0.5 MILLION UNDERSERVED CUSTOMERS PARTICULARLY POOR AND WOMEN, WITH A DEPOSIT BASE OF 300 CRORES, ASSURING A HEALTHY RETURN TO OUR STAKE HOLDERS. Mission .to be a sustainable local community based institution providing financial services to the underserved, particularly rural poor and women and to arrange provision of technical assistance and support services to the borrowers with the ultimate goal of promot...