Mangaluru : Karnataka Bank bagged CFBP Jamnalal Bajaj Award for Fair Business Practices – Certificate of Merit under the category ‘Service Enterprises – Large’ recently.

Bank’s Chief General Manager M.S. Mahabaleshwara received the award from Ajay Piramal, chairman, Piramal Group, in Mumbai on Tuesday. Shekhar Bajaj, president, and Kalpana Munshi, vice-president and chairperson of awards committee, Council for Fair Business Practices (CFBP) were among the dignitaries who were present.

A release from the bank said the award was constituted by the CFPB under four categories — Manufacturing, Services, Trade and Distribution, and Charitable Association. Awards are decided on eight parameters — customer satisfaction, customer communication, employee motivation, supply chain system, regulatory compliance, environment protection, corporate social responsibility, and compliance with laws.

The release quoted bank’s Managing Director and CEO P. Jayaram Bhat as saying, “Our bank is committed to promoting the highest ethical practices in our dealings with our customers and stakeholders to provide them complete satisfaction and to create sustained value.

Fair business practices are our way of life. We are happy to get this unique distinction in recognition of the fair business practices adopted by us.”