Mangalore : Karnataka Bank Limited of city has bagged the Best Bank Award for “Managing IT Risk” for the year 2010-11 conferred by Institute for Development and Research in Banking Technology (IDRBT).

Anand Sinha, Deputy Governor, Reserve Bank of India handed over the award to Shri P. Jayarama Bhat, Managing Director at a special function held in Hyderabad on August 4, Thursday.

The Bank has bagged the award for the second consecutive year. Previously, Bank had bagged “Special Award for use of IT for Internal effectiveness” for the year 2009 instituted by IDRBT.

Karnataka Bank has a series of technology based services such as MoneyplantTM International Debit Card, Internet banking facility, e-shopping, online railway ticket booking, VISA bill payment, etc.

Apart from it, the Bank has 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. 

Further, the Bank aims to introduce Gift card, Travel card and ASBA (Application Supported by Blocked Amount) facilities for its customers during the current financial year.