Karnataka Bank bags IDRBT banking technology award

Karnataka Bank has been awarded the ‘Best Bank Award for Evangelising Technology Adoption’ among small banks, for the year 2014-15.

The award has been instituted by the Institute for Development and Research in Banking Technology (IDRBT), Hyderabad.

The Bank had earlier bagged the ‘Special Award for Managing IT Risk’ in 2011, the Best Bank Award for Managing IT Risks and the Best Bank Award for Using IT for Business Innovation’ in 2012-13, which have been instituted by the IDRBT.

The Bank is into its 92nd year of purposeful banking and expects a business turnover of Rs 91,000 crore – with deposits of Rs 53,500 crore and advances of Rs 37,500 crore – by the end of this fiscal year.

The Bank has a network of 1,793 service outlets in the country, comprising of 691 branches, 1,102 ATM kiosks, including 12 e-lobbies. It is poised to increase the number of outlets to 2,000 comprising of 725 branches and 1,275 ATM kiosks, including 25 e-lobbies, by the end of March 2015.

Karnataka Bank Managing Director P Jayarama Bhat received the award from Reserve Bank of India Governor Dr Raghuram G Rajan at IDRBT, Hyderabad.