According to recent press reports Karnataka Bank Ltd, private sector banking institution based in the town of Mangalore in Karnataka has signed an agreement with Bartronics India Ltd in order to boost up the process of providing banking services in remote villages under its financial inclusion plan.
The agreement was signed by the Managing Director of the bank, Mr P. Jayarama Bhat, and the Chief Executive Officer of Bartronics India Ltd, Mr K. Umesh.
Integra Microsystems (P) Ltd was the first company to have a tie up with the bank for the financial inclusion solution and the tie up with Bartronics India Ltd is the second one.
According to the financial inclusion plans the bank has decided to provide banking services to more than 2.3 lakh beneficiaries in 80 villages in Karnataka and other States. Of the eighty villages, forty three is to be covered by the end of March 31, 2011, and the rest by March 31, 2012.
The other services of the bank include multi-branch banking, deposit schemes and savings bank deposit, K-Flexi deposit, resident foreign currency (domestic) account, NRI services, Senior Citizens Deposit Scheme and loan schemes as Vidyanidhi education loan scheme, Apna ghar home loan, car finance scheme, Varthak loans etc.