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Karnataka Bank bags IDRBT Banking Technology Award

Karnataka Bank bags IDRBT Banking Technology Award

Mangalore Today News Network

Mangaluru, July 20, 2016: Karnataka Bank a premier private sector Bank headquartered at Mangaluru has received the "Certificate of SPECIAL MENTION for use of Technology for Financial Inclusion among small banks"  instituted by Institute for Development and Research in Banking Technology [IDRBT], Hyderabad for the year 2015-16.

Karnataka Bank Technology Award

Shri P Jayarama Bhat, Managing Director of the Bank and Shri Raghavendra Bhat M, General Manager of the Bank, received the Award from Dr Raghuram G Rajan, Honourable Governor, Reserve Bank of India, on 18-07-2016 at IDRBT, Hyderabad in the august presence of Shri R Gandhi, Deputy Governor, Reserve Bank of India & Chairman, IDRBT and Dr A S Ramasastri, Director, IDRBT.

It may be recalled that the bank had earlier bagged the “Best Bank Award for Evangelising Technology Adoption” among Small Banks in 2015, two awards, viz., Best Bank award for managing IT risks and Best Bank Award for using IT for business innovation” in 2012-13 and “Special award for managing IT risk’ in 2011, instituted by IDRBT.

“It was a great honour receiving the "Certificate of SPECIAL MENTION for use of Technology for Financial Inclusion among small banks"  instituted by IDRBT, from Dr Raghuram G Rajan, Honorable Governor, Reserve Bank of India. Bank has been endeavouring to upgrade its technology platform on an ongoing basis to roll out innovative products and services for its customers and to derive maximum business value through optimum use of IT resources. This recognition will further motivate us in implementing our IT strategies more effectively.” said Shri P Jayarama Bhat, MD & CEO of the Bank.

The Bank is into its 93rd year of purposeful banking and eyeing a business turnover of Rs. 1,00,000 crore [Deposits Rs. 58,500 crore & Advances Rs 41,500 crores]. The Bank has a network of 2033 service outlets comprising of 733 branches, 1300 ATMs and 27 e-Lobbies spread across the country. The Bank is poised to increase its number of outlets to 2,265 comprising of 765 Branches and 1500 ATMs and 100 e-Lobbies / mini e-Lobbies, by the end of March 2017.

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