Media Release

Mangalore, Aug 7: The city-based private sector bank - Karnataka Bank Limited has bagged the best bank award for ‘Managing IT Risk’ under small bank category for the year 2010-11, instituted by Institute for Development and Research in Banking Technology (IDRBT).

Anand Sinha, deputy governor, Reserve Bank of India and Chairman, IDRBT presented the award to P Jayarama Bhat, managing director at a function held in Hyderabad on August 4, 2011.

This is for the second consecutive year that the Bank has won the award. The Bank had bagged ‘Special Award for use of IT for Internal effectiveness’ for the year 2009 instituted by IDRBT.

The Bank which is tech savvy is the first private sector bank to have introduced core banking solution way back in 2000. The Bank which has adopted “Finacle” designed and developed by the IT major Infosys Technologies has networked all its existing 483 branches thereby ensuring Anywhere Anytime banking facility to its customers.

The Bank has a wide range of technology backed services such as MoneyplantTM International Debit Card, Internet banking facility, e-shopping, online railway ticket booking, VISA bill payment, etc. Recently, the Bank launched Point of Sale (POS) terminal facility and also entered into a strategic tie up with M/s Way2Wealth Brokers Pvt. Ltd. for providing Online Trading facility.