Karur Vysya Bank donates Rs 1 cr to TN State Disaster Management Authority

Karur Vysya Bank on Wednesday said it has donated Rs 1 crore to the Tamil Nadu State Disaster Management Authority from its CSR funds to fight the current pandemic.

Managing Director and CEO B Ramesh Babu handed over a demand draft to minister of electricity, prohibition and excise, Tamil Nadu government, Senthil Balaji, it said in a release.

The bank has also donated ten ambulances 2 for use in the plains and 8 for use in hilly regions to the Government of Tamil Nadu at a cost of Rs 1.77 crore. The bank has donated Rs 3.29 crore so far during the second wave of COVID-19 under Corporate Social Responsibility, it said.

* * * * * * Zaggle makes a foray into neo-banking space *

Fintech company Zaggle on Wednesday announced its entry into the neo-banking space through its group company ZikZuk.

It will address major challenges faced by SMEs, Zaggle said. The first product that is being launched is the Founders Card a credit card for SME owners under its group company ZikZuk.

The company is aiming to clock in a revenue of Rs 250 cr in the first one year of business, it said in a release.