Karnataka Bank becomes part of Khajane - II IFMS, GoK

7 Sep 2022 , 02:25 PM

Karnataka Bank is now a participant of the Treasury Department’s Khajane-II (K2) integrated financial management system (IFMS) for implementing the Single Nodal Agency (SNA) account system for Centrally Sponsored Schemes (CSS).

Mahabaleshwara M S, Managing Director & CEO, commented on the event, saying, “Since its appointment as an Agency Bank by the Reserve Bank of India (RBI), Karnataka Bank has been actively engaged in government business.”

He added, “Now, with this Khajane-II (K.2) integration in an automated environment, the Bank will be bolstering the Government’s efforts to execute different sponsored programmes for direct credit in a safe, secure, and faster way to the targeted beneficiaries’ bank accounts.”

The bank will continue to engage and cooperate with the Government of Karnataka in implementing its numerous efforts to benefit the people through its technology and digital-led solutions, said Mahabaleshwara.

At around 2.30 PM, Karnataka Bank was trading at Rs75.90 up by 0.46% from its previous closing of Rs75.55 on the BSE. The scrip touched intraday high and low of Rs76.05 and Rs75 respectively.

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