Banking in Karnataka
For more details on this topic, see Banking in Karnataka.Karnataka, particularly the coastal districts of Dakshina Kannada and Udupi kave a premier position in banking in India. This is because seven of the country's leading banks, Canara Bank, Syndicate Bank, Corporation Bank, Vijaya Bank, Karnataka Bank, Vysya Bank and the State Bank of Mysore originated from this state. The first five in the above list of banks were established in the districts of Udupi and Dakshina Kannada. These districts have among the best distributions of banks in India—a branch for every 500 persons. Between 1880 and 1935, 22 banks were established in coastal Karnataka, nine of them in the city of Mangalore.
As of March 2002, Karnataka had 4767 branches of different banks servicing the people of the state. The number of people served by each branch was 11,000 which is lesser than the national average of 16,000, thereby indicating better penetration of banking in the state.
Read more about this topic: Economy Of Karnataka, Industry
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—William Howard Taft (1857–1930)