Karnataka Bank launches TAB Banking

Karnataka Bank, as part of its digital initiative, launched 'KBL Xpress SB Accounts', a digitised version for opening Savings Bank account through TAB Banking on the spot.

Using the TAB banking account opening process, the Bank can on-board the prospective customer and open the Savings Bank Account. The Bank official will visit the customer’s place and open the account using the TAB within 10 minutes and issue the pre-activated Debit Card and Mobile and Internet Banking will be activated instantly.

Mahabaleshwara M S, Bank managing director and CEO, while launching the TAB banking facility said “Digital revolution is driving the banking industry and Karnataka Bank is an early mover on this front. It is our endeavour and commitment to enable banking facilities across the length and breadth of the country. Bank has already rolled out digital sanctions of its retail loan to meet the expectations of the millennial clients,” he said.

“With the introduction of TAB banking for SB account opening, the customers can be on-boarded by the Bank within a short span of 10 minutes and instantaneously debit card will also be issued besides extending Mobile Banking and Internet Banking facilities. Initially, this will be launched in Bangalore on a pilot basis and will be expanded Pan-India soon. With the strong presence of Karnataka Bank across India, this unique feature will give us an opportunity to expand our base and to connect to our prospective customers instantaneously,” he said.