The Hindu : Tamil Nadu / Chennai News : Former bank chairman honoured

Online edition of India's National Newspaper
Wednesday, May 02, 2007
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Tamil Nadu

Tamil Nadu - Chennai

Former bank chairman honoured

R. Sujatha

GREAT MARATHA: Former chairman of Karur Vysya Bank K.N. Bhujanga Rao (left) being honoured by Indian Overseas Bank executive director Ashok Dugade on the occasion of the Chhatrapathi Shivaji Jayanthi celebration in Chennai on Tuesday. — PHOTO : S. THANTHONI

CHENNAI: When people move from their homeland to another region they assimilate the culture of the adopted land and enhance the native community's worth. Members of the small Maharashtrian community that came to Tamil Nadu several centuries ago have done just that.

Kanchi Nagaraja Bhujanga Rao is one such migrant. His ancestors settled in Kumbakonam and he was born there and educated in Tiruchi. His job took him to a small town called Karur where he worked as a banker in Karur Vysya Bank.

He then became the bank's chairman, bringing customers in the early years and credibility to private banks in the later years. "He was the first Maharashtrian I met when I joined State Bank of India branch at Karur," recalls N. Sanjeeva Rao, his banker friend of 50 years.

As chairman of KVB, Mr. Rao took up the cause of private banks. "There was discrimination between private and nationalised banks. Government companies would refuse to accept drafts from private sector banks. The chairmen of private banks formed an association and presented a memorandum to the then Chief Minister M.G. Ramachandran. His intervention led to the state government depositing money in private banks.

"Since then Karur Vysya Bank has continued to grow," Mr. Rao, who retired from the bank sometime ago, reflected.

He was also involved in the committee that sought wage revision for private bank employees.

Achievements

It was for these achievements that the Maharashtra Association honoured him with the `Great Maratha Award' on Tuesday.

Ashok Dugade, executive director of Indian Overseas Bank, who presented a plaque and a shawl to Mr. Rao, said the association should attract the younger generation by conducting drama festivals, as was being done in Bangalore. The Association celebrated the Maharashtra Day and the Chhatrapathi Shivaji jayanthi on Tuesday.

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