Karnataka Bank is Empanelled as an “Agency Bank” by RBI For Government Businesses: Know More

The Reserve Bank of India (RBI) has empanelled the Karnataka Bank to act as an “Agency Bank” to facilitate transactions related to Government businesses. The Karnataka Bank is now authorised to 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.