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Karnataka Bank installs rain water harvesting unit at their Head office premises

Posted On: 2019-09-03 23:22:00

Mahabaleshwara M.S, MD & CEO, of Karnataka Bank has today inaugurated Rain Water Harvesting unit set up at the Head office premises of the Bank at Mangaluru. Inaugurating the unit Shri Mahabaleshwara said, "The average annual rainfall in Dakshina Kannada is 4,030 millimeters. Though the district receives bountiful rainfall every year, the irony is that during the past recent years, severe scarcity of water has become a recurring problem especially in the coastal areas of Dakshina Kannada district during the summer season. Rain water harvesting assumes significance in this backdrop and the initiative of Karnataka Bank to install the project of this scale is commendable and a model for other Corporates to take a cue. Karnataka Bank came into existence as a socio-economic movement with a mission and vision of unique nature of contributing to the betterment of the larger society along with its primary objective of generating economic growth and profits. The bank has been active in the Corporate Social Responsibility space even before it was mandated by law and continues to support various environmental sustainability initiatives like promoting the use of solar energy, reviving the dying natural water bodies besides assisting institutions in adopting rain harvesting units, protecting flora and fauna etc. The Bank's participation in the Honourable Prime Minister's Swachh Bharat Abhiyan started right from the premises of this Head office two years back cleaning the premises with the active participation of all the staff. The activity was subsequently undertaken by all the branches and offices of the Bank across the country. Further the Bank has been able to make its Head office premises a `Plastic Free Zone'. This is a forward looking measure with an objective of directly addressing the water crisis that the society is currently facing while ensuring sustainability in the long run."

Also present on the occasion were Shri Balachandra Y V, Chief operating officer, Shri Vinaya Bhat P J, General Manager, Shri Jagadeesha K R, Shri Srinivas Deshpande, Shri Vijaya Kumar P H, Shri K S Ponnappa, Assistant General Managers, other staff of the Bank and Shri Rajendra Kalbavi, Project Director, D.K Nirmithi Kendra NITK, who has given his services free of cost for this project, Shri Arun Prabha , General Manager (Technical), Mangaluru Smart City Ltd. & Chairman of Consulting Civil Engineers Association, Shri Vimal Kirthi Kain, Engineer & Contractor of this project.

Shares of KARNATAKA BANK LTD. was last trading in BSE at Rs.74.5 as compared to the previous close of Rs. 75. The total number of shares traded during the day was 61292 in over 610 trades.

The stock hit an intraday high of Rs. 75.15 and intraday low of 74.2. The net turnover during the day was Rs. 4581479.


Source: Equity Bulls

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