CURRENT AFFAIRS

Detailed explanation-1: -Karnataka Vikas Grameena Bank (KVGB), a regional rural bank headquartered in Dharwad, has signed a memorandum of understanding (MoU) with Liberty General Insurance for selling general insurance products through 629 branches of KVGB.

Detailed explanation-2: -Karnataka Vikas Grameena Bank was established on 12th Sept 2005, by a Govt. of India Notification, Amalgamating four Regional Rural Banks sponsored by Syndicate Bank in the state of Karnataka.

Detailed explanation-3: -Liberty General Insurance tie-up with Peerless Financial Products Distribution Ltd. LGI is a joint venture between Liberty Citystate holdings PTE Ltd, Enam Securities, and Diamond Dealtrade.

Detailed explanation-4: -Accordingly, in Karnataka State, our Bank namely Karnataka Vikas Grameena Bank has come in to existence with effect from 12th September 2005 by amalgamating 4 erstwhile RRBs namely Malaprabha, Bijapur, Varada and Netravati Grameena Banks.