Karnataka Bank becomes a part of the Khajane - II of GoK

Karnataka Bank Ltd is now part of the Khajane-II (K.2) integrated financial management system (IFMS) of Treasury Department, Govt. of Karnataka for implementing Single Nodal Agency (SNA) account system for Centrally Sponsored Schemes (CSS).

Speaking on the development, Shri Mahabaleshwara M S, Managing Director & CEO, said, "post appointment as Agency Bank by Reserve Bank of India (RBI), Karnataka Bank is actively engaged in Government businesses. Now, through this interface with Khajane-II (K.2) in an automated environment, Bank will be strengthening the Govermnent' 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 mam1er. The bank, through its technology and digital led solutions, will continue to engage and parh1er with the Government of Karnataka for implementing its various initiatives towards welfare of the public".

Source : Equity Bulls

Keywords

KarnatakaBank Khajane2 IFMS TreasuryDepartment KarnatakaGovernment