Solar push helps Karnataka rural bank to save on bills

In order to battle the curse of power cuts and high electricity bills, Karnataka Vikas Grameena (KVG) bank installed solar panels on its roof. The entire bank runs on the power generated through solar energy.

"Earlier, we would receive electricity bills to the tune of ₹70,000 to ₹76,000 per month. After the shift to solar energy, the bank began receiving reduced bill amounts costing ₹57,000. We are hoping to recover the entire installation expense in six to seven years," said KVG Bank chairman S Ravindran.

The regional rural bank was established on September 12, 2005, after four regional banks such as Malaprabha Grameena Bank, Bijapur Grameena Bank, Varada Grameena Bank and Netravathi Grameena Banks were merged on the recommendation of Narasimhan Committee under the Government of India notification.

The bank operates in nine districts of the state and has made an effort to be self-reliant by installing solar panels on its terrace which generate 80 to 100 units of power each day. The installation charges cost the bank ₹21 lakh. 

The head office in Dharwad, which employees 110 people, requires 300 units of power to run lights, fans, air conditioner, computers and ATMs. The newly-installed solar panel has helped the bank to generate 2,400 units of power.

"Fossil fuels and conventional sources of energy face the danger of depletion. It is time we install solar energy systems for saving our natural resources," said KVG Bank general manager K Subba Rao.