Karnataka Bank Ltd has now become part of the Karnataka Government’s integrated financial management system (IFMS) – Khajane-II -- for implementing single nodal agency (SNA) account system for Centrally-sponsored schemes.
Quoting Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, a statement said Karnataka Bank is actively engaged in government businesses post the appointment as agency bank by Reserve Bank of India.
“Now, through this interface with Khajane-II in an automated environment, the bank will be strengthening the Government’s efforts in implementing various sponsored schemes for disbursement of cash benefits to the targeted beneficiaries through direct credit to their bank accounts in a safe, secure and speedier manner,” he said.
The bank, through its technology and digital led solutions, will continue to engage and partner with the Karnataka government for implementing its various initiatives towards welfare of the public, he said.
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