HomeNewsBankingRBI empanelled Karnataka Bank as ‘agency bank’ for govt business

RBI empanelled Karnataka Bank as ‘agency bank’ for govt business

RBI empanelled Karnataka Bank as ‘agency bank’ for govt business

The Reserve Bank of India (RBI) has empanelled Karnataka Bank to act as an “Agency Bank” to facilitate transactions related to Government businesses. now, the Karnataka Bank will undertake the Government businesses such as Revenue receipts and payments on behalf of the Central/State Governments, Pension payments in respect of Central / State Governments, Collection of stamp duty charges, and also any other item of work specifically advised by Reserve Bank of India.

About Karnataka Bank –

  • Headquarters: Mangalore
  • CEO: Mahabaleshwara M. S
  • Founded: 18 February 1924

About Reserve Bank of India (RBI) –

  • Headquarters: Mumbai
  • Founder: British Raj
  • Founded: 1 April 1935, Kolkata
  • Governor: Shaktikanta Das

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