KBL-Deposit Only Card to boost Current Account Balances Float
Karnataka Bank headquartered in Mangalore
has launched ‘KBL-Deposit Only Card’ that enables hassle-free cash deposit
transactions at the bank’s 24X7 e-lobby services.
The new offering was announced through
a A press release by the bank on Thursday.
This card is specially meant for the bank’s
current/overdraft customers.
These customers can perform cash deposit
transactions even with higher deposit limit at the bank’s bunch note acceptor
(BNA) or cash recycler kiosks by using this card.
The limit for the cash deposit a day is Rs
10 lakh.
Quoting Mahabaleshwara MS, Managing
Director and Chief Executive Officer of the bank, the release said that these
unique cards will empower the corporate customers and businessmen to deposit
cash and business proceeds to their account, round the clock, even at different
locations.
In future, these cards may be permitted
with inter-operable cash deposit (ICD) transactions – that is cash deposit at
other banks’ BNAs or recyclers, when NPCI ICD initiative is enabled at the
bank, he said.
NPCI gets RBI approval for “Interoperable
Cash Deposit” @ India Infoline News Service | Mumbai | July 27, 2015 9:47 IST
The proposed service inter-alia has the
facility of participating NFS member banks to deposit cash in other bank’s Cash
Deposit Machines (CDMs) with cash deposit limit of Rs. 46, 999/- per
transaction.
Karnataka Bank Limited, , was incorporated
on February 18th, 1924 at Mangaluru, a coastal town of Dakshina Kannada
district in Karnataka State. Over the years the Bank grew with the merger of
Sringeri Sharada Bank Ltd., Chitradurga Bank Ltd. and Bank of Karnataka.
Karnataka Bank has a national presence with
a network of 805 branches spread across 22 states and 2 Union Territories.
7 Benefits of KBL-Deposit Only Card
Benefit 01) No fear of misuse even if card
is lost
Benefit 02) Reduces the cash carrying cost
of Karnataka Bank account holders
Benefit 03) Reduces the cash handling cost
at Karnataka Bank branches
Benefit 04) Multiple cards can be issued to
a Karnataka Bank single account
Benefit 05) The Average balances in
Karnataka Bank current accounts will go up
Benefit 06) The operating costs of Karnataka
Bank’s bunch note acceptor (BNA) or cash recycler
kiosks with the increased number of transactions
Benefit 07) Future Ready
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