Forbes Recognises Kerala Gramin Bank Among India’s Top Banks
Kerala Gramin Bank ranks 9th in Forbes’ Best Banks in India 2024, becoming the only RRB to achieve this global recognition. As the banking sector continues to evolve, Kerala Gramin Bank’s journey stands as a model of what is possible when public service meets innovation and accountability.
Author: Saurav Kumar
Published: May 24, 2025
In a significant recognition of its performance and service, Kerala Gramin Bank (KGB) has been ranked 9th in Forbes’ list of India’s Best Banks. It is also the only Regional Rural Bank (RRB) in the country to feature in this prestigious global ranking—an exceptional feat that sets it apart in the rural banking landscape.
KGB secured this position based on its exceptional customer service, reliable digital banking offerings, and sound financial advisory, according to the evaluation conducted by Forbes in collaboration with market research firm Statista.
Trustworthiness: The Most Crucial Aspect
The World’s Best Banks 2024 list was compiled based on a global survey conducted between October and December 2024, involving over 50,000 banking customers across 34 countries and in 17 languages. Respondents were asked to rate banks with which they have had accounts or experience—either directly or through close family or friends.
Each bank was evaluated on the following five key criteria:
- Trustworthiness
- Terms and conditions (including fees and interest rates)
- Customer service (e.g., staff helpfulness and seamless operation)
- Digital services (such as the usability of apps and online banking platforms)
- Quality of financial advice
Respondents were also asked to rank these criteria by importance, with trustworthiness emerging as the most valued aspect across all countries.
A Proud Moment for Rural Banking
An employee of the bank told Kanal, “Kerala Gramin Bank’s ranking is a testament to its consistent efforts in rural masses providing accessible financial services, and integrating technology to improve customer experience. The achievement becomes even more significant considering the stiff competition from large commercial and private sector banks.
Notably, Canara Bank, the sponsor bank of Kerala Gramin Bank, has also celebrated this achievement, recognising KGB’s commitment to inclusive rural banking and its contribution to the broader financial ecosystem.
A Benchmark for Other RRBs
KGB’s inclusion in Forbes’ top banks list is a historic first for India’s RRB sector, offering a benchmark for others to follow. It proves that with professional governance, digital integration, and a customer-centric approach, rural banks can compete at the highest levels. As the banking sector continues to evolve, Kerala Gramin Bank’s journey stands as a model of what is possible when public service meets innovation and accountability.
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