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Lakshmi Vilas Bank Limited LOGOc


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„  

 

The Lakshmi Vilas Bank Limited (LVB) was founded eight decades ago ( in
1926) by seven people of Karur under the leadership of Shri V.S.N. Ramalinga
Chettiar, mainly to cater to the financial needs of varied customer segments. The
bank was incorporated on November 03, 1926 under the Indian Companies Act,
1913 and obtained the certificate to commence business on November 10, 1926,
The Bank obtained its license from RBI in June 1958 and in August 1958 it
became a Scheduled Commercial Bank.

During 1961-65 LVB took over nine Banks and raised its branch network
considerably. To meet the emerging challenges in the competitive business world,
the bank started expanding its boundaries beyond Tamil Nadu from 1974 by
opening branches in the neighboring states of Andhra Pradesh, Karnataka, Kerala,
Maharashtra, Madhya Pradesh, Gujarat, West Bengal, Uttar Pradesh, Delhi and
Pondicherry. Mechanization was introduced in the Head office of the Bank as
early as 1977. At present, with a network of 270 branches,1 satellite branch and 7
extension counters, spread over 15 states and the union territory of Pondicherry,
the Bank's focus is on customer delight, by maintaining high standards of
customer service and amidst all these new challenges, the bank is progressing
admirably. LVB has a strong and wide base in the state of Tamil Nadu, one of the
progressive states in the country, which is politically stable and has a vibrant
industrial environment. LVB has been focusing on retail banking, corporate
banking and banc assurance.

The Bank's business crossed Rs. 12,606 Crores as on March 31, 2009. The Bank
earned a Net profit of Rs. 50.30 Crores. The Net owned Funds of the Bank reaches
Rs. 453.70 Crores. With a fairly good quality of loan assets the Net NPA of the
bank was pegged at 1.24 % as on March 31, 2009.

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Company History - Lakshmi Vilas Bank


YEAR EVENTS
1926 - The Company was Incorporated at Karur, South India. The main
object of the company is The Bank transacts banking business
of
every description.

1931 - 2,900 Rights shares issued at par.

1947 - 10,000 Right shares issued (prem. Rs.5 per share; prop. 1:1).

1953 - 5,000 Rights shares issued (prem. Rs.5 per share; prop. 1:4).

1957 - 12,500 Bonus shares issued in prop. 1:2.

1958 - The Bank was licensed under the Banking Companies Act and it
became a Scheduled Bank the same year.

1960 - 12,500 rights shares issued (prem. Rs.10 per share; prop.
1:3)

1961 - In October, the Karur Mercantile Bank, Ltd. Karur, was


amalgamated with the Bank, as ordered by the Central
Government.
The Bank took over particular assets and liabilities of
Kannivadi
Bank Pvt. Ltd., in November, for the Trichinopoly Vysya Bank,
Ltd., Tiruchirapalli, in August 1963 and of Tirirukkattupally
Bank, Ltd., Tanjore in December, 1963.

- 25,000 rights shares issued (prem. Rs.10 per share; prop.


1:2).

1962 - 1,191 shares issued to members of Karur Mercantile Bank, Ltd.


on
its merger.

1964 - In 1964, Salem Gugai Sree Krishna Bank, Ltd., Salem, was
amalgamated with the Bank. Negotiations were being carried
on
with some other banking concerns for amalgamation.

- 24 shares issued.

1965 - The Bank took over the particular assets and liabilities of
the
Shri Nadiambal Bank (P) Ltd., in January of the Kattuputtur
Bank
(P) Ltd., in March of the Salem National Bank in August and of

the Salem Sree Ramaswamy Bank, Ltd., in September.

1971 - 37 shares issued.

1974 - 1,52,504 shares issued (prem. Re.1 per share).

1982 - 1,14,388 right equity shares issued in prop. 1:2.

1986 - 3,43,164 rights equity shares issued at par in prop. 1:1.

1988 - 6,00,000 No. of equity shares issued at par to public in


December.

1989 - 6,43,164 right equity shares issued in prop. 1:2.

1993 - The Company issued 9,64,746 No. of equity shares of Rs.10 each
for cash at a prem. of Rs.30 per share on Rights basis in the

prop. 1:2. Allotment of 6,225 shares were kept in abeyance.

- 9,64,746 rights shares issued (prem. Rs.30 per share) in


prop.
1:2.

1997

-Mr K. Raghunath Shenoy has become the chief executive officer and
Chairman of Lakshmi Vilas Bank. He was executive director of the
bank till recently.

1998

-Developed a credit product Gem Credit specifically for the


artificial gem processing industry.

1999

- launched a money-back deposit scheme to suit the needs of investors


who do not mind a longer maturity period but want a larger pay-out.

2000

- introduced a basket of products namely Lakshmi Agribike, Lakshmi


Consumer Credit and Lakshmi Rental Loan

2001

-Reduced its prime lending rate (PLR) by one per cent to 13 per cent
per annum from 14 per cent effective April 1, 2001

-Board Announces that it has allocated an amount of Rs 25 crore


towards financing rice mills in Andhra Pradesh for the current fiscal
year.

-Board Announces a distribution tie-up called Bancassurance with


Lakshmi Vilas Bank to develop a nationwide network which also has a
strong regional focus.

-Signed a letter of intent with CGU Life Insurance to offer agency


services to the latter

-Board announces the launch of its education loan scheme - Vidya


Lakshmi Loan

-Lakshmi Vilas Bank slashes deposit rates

-Forges an alliance with ICRA for putting in place a credit risk


assessment system

2002

-Mr.M P Shyam and Mr. V N Krishnamurthy have been appointed as


Additional Directors. And Mr. Athi R. Venkatraman and Mr. T
Srinivasulu have resigned as Directors of the company.

-Board entered into an MOU with Dabur CGU Life Insurance Company (P)
Ltd on May 28, 2002 to sell insurance products under the Brand name
'AVIVA'.

2003

-LVB slashed interest rate for deposits by 0.25 % for periods above
271 and 364 days maturity slab.

-LVB forges alliance with ICICI Infotech for core banking solution

-Lakshmi Vilas Bank mobilises Rs 50 cr through tier-II bonds issue

-Entered into Corporate Agency Arrangement with M/s Royal Sundaram


Alliance Insurance Co. Ltd. for distributing their General Insurance
Products.

-Unveils Aviva Life Insurance products at Visakahapatnam in Andhra


Pradesh
-Board Decided to set up three strategic business units (SBUs) to
cash in on the increasing opportunities in the large and
mid-corporates, and retail and personal segments.

-Lakshmi Vilas Bank Ltd has acquired 807,000 shares amounting to


12.32% of the total paid up capital of Blue Coast Hotels and Resorts
Ltd. (Formerly Morepen Hotels Ltd).

-Mr Abhishek Dalmia of the New Delhi-based Renaissance Group has


picked up a 2-per cent stake each in Lakshmi Vilas Bank This will
translate into around 2.3 lakh shares of Lakshmi Vilas Bank.

2004

-The Lakshmi Vilas Bank has entered into a tie up with the Wall
Street Exchange Centre LLC, Dubai belonging to the House of Patels
for remittences of NRIs through rupee drawing arrangement (RDA)

2007

- Lakshmi Vilas Bank Ltd has appointed Shri.R.Mohan as Additional


Director.

2009

- Lakshmi Vilas Bank has entered into an alliance with PayMate for
mobile payment solution, which is being made available to its
customers across 250 branches.

2010

-- Lakshmi Vilas Bank Ltd has informed that the Board of Directors of
the Bank at the meeting held on January 23,2010 has Co-opted
Shri.K.S.R.Anjaneyulu as an additional Director and also appointed
him, as Managing Director & CEO of the Bank.
 
 

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Dr. S.Narayan
Chairman

Date of Birth : 20.06.1943


Qualification : M.Sc., MBA, M.Phil., PhD.

Entered Indian Administrative Service in 1965.


He was Economic Adviser to the Prime
Minister, during 2003-2004. Prior to this
assignment, between 2000 and 2003, was in
Government of India as Finance & Economic
Affairs Secretary and Secretary in the
Department of Revenue, in the Ministry of
Finance.

Shri. K.S.R.Anjaneyulu
Managing Director

Date of Birth : 02.10.1954


Qualification : M.Com., CAIIB, EGMP
(IIM,Bangalore)

Senior Banking professional with 33 years of


rich experience in a leading commercial bank
with proven track record.

Shri. K.Balaji
Director

Date of Birth : 21.04.1974

He is a partner in established textile export firm


based at Karur, He has extensively travelled
abroad and participated in several textiles fairs in
Japan, European and Scandinavian Countries. .
Shri. N. Saiprasad.
Director

Date of Birth : 26.03.1964


Qualification: M.sc., M.B.A

He hails from a renowned Business family. He


has professional exposure in Marketing and
decades of experience & exposure in textile
business & Exports. He hails from the
promoters' family and has widely traveled in
India and abroad.

Shri. K. Ravindrakumar.
Director

Date of Birth : 15.08.1958


Qualification: M.Com

He has been in Jewellery business for decades.


He has shown keen interest in
social welfare activities and has widely traveled
in India & abroad.

Shri.Kusuma R Muniraju
Director

Date of Birth:20.06.1949
Qualification:B.Sc., L.L.B.,DCT.,
areas of legal issues of the reality sector.
He is an advocate with 37 years of standing and
specialised in the
Shri.D.L.N.Rao
Director

Date of Birth:03.03.1949
Qualification:B.Sc., L.L.B.,PG Diploma in
Social Science

He is a Senior advocate with 37years of standing


and practicing Civil Law,
Constituitional Law, Mining Law and Taxation
in the High Court of Karnataka.

Shri.B.K.Manjunath
Director

Date of Birth:27.03.1960
Qualification:B.Com.,FCA.,

He is a practicing Chartered Accountant with


21years of standing and specialized
in the areas of Audit, Accountancy, Taxation and
Finance.

Shri.K.R.Pradeep
Director

Date of Birth:08.09.1960
Qualification:B.B.M.,FCA.,

He is a practicing Chartered Accountant with 25


years of standing and specialized
in the areas of Direct Taxes, consultant, advisor
to various group of Industries and Multinational
Companies in India.
Shri.S.G.Prabhakharan
Director

Date of Birth:15.05.1955
Qualification:B.Com.,B.L.,A.C.S

He is a Corporate Lawyer and a Senior Partner


in the law firm M/S.Rangarajan and
Prabhakharan, a leading law firm in South India.
He was instrumental in setting up the first
Private Sector Mutual Fund in collaboration with
Pioneer Mutual Fund, Boston, USA in 1993 and
was a Director of Kothari Pioneer Asset
Management Company.Director of the Bank
from 1998 to 2006.Realtor having had sterling
practice of Law from 1978 to 1994.
Shri.S.Dattathreyan
Director

Date of Birth:11.02.1962
Qualification:B.E.

He is a Mechanical Engineer. He has 25 years


experience in FMCG Business and he has shown
keen interest in social activities.

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To be a sound and dynamic banking entity providing financial services of
excellence with Pan India presence."
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  „
 „ allows customers to conduct financial
transactions on a secure website operated by their retail or corporate
services. Our bank has launched Internet Banking at Chennai, on August
09, 2008. This is yet another milestone activity of the bank, after
achieving the status of 100% Core Banking System. This is a cost
effective delivery channel to all customers of the bank. The facility can
be availed by any individual customer of the bank, having an operative
account with our branches. (An Individual who is a customer can operate
the account individually)

The customers who are willing to avail LVBiNet facility can approach
any branch of LVB to get the IB facility application form or directly
download the application form from our website www.lvbank.com which
is readily available.

To start with, we are offering the following services under Internet


banking.


 

ð Funds Transfer between Accounts in LVB.


ð One view for all the accounts of a customer.
ð Account Summary and Account details.
ð View, Print and Download Statement of Accounts.

  
ð Status of Cheque / Cheque book
ð Details of Term Deposits.
ð Details of Loans.
ð Standing Instructions.
ð Interest Rates.

 
 
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ð Cheque Book request.


ð Stop Payment request.
ð Statement of Accounts request.
ð Term Deposit opening.
ð DD/BC Issue request and more«

 
 

1. In case the customer doesn¶t recollect his Internet banking password


then he has to submit a request letter to send a fresh pin/password
through any of the branches of LVB. In the interest of safety of our
customer¶s funds and confidentiality of information, no telephone or
email request will be accepted for resetting the password.

2. On receipt of request through the branch, the Internet Cell will


regenerate the password/pin and dispatch to the customer.

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1. If the customer tries to log in with a wrong password continuously for


three times, the system will automatically lock his User Id. Under such
circumstances, the customer can approach the Administrator through
email to unlock the User Id provided he is aware of his password. The
administrator will only release his locked User Id and will not reset his
password. No telephone request will be accepted for unlocking the user
id.
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