17 June 2016 Current Affairs: The Mangaluru-based Karnataka Bank has bagged the Jamnalal Bajaj award for fair business practices, a certificate of merit under the category 'service enterprises-large'.
The award was constituted by the CFPB (Council for Fair Business Practices) in four categories : manufacturing, services, trade and distribution and charitable association.
Karnataka Bank Managing Director and CEO P Jayaram Bhat said in the release that their bank was committed to promoting the highest ethical practices in dealings with customers and stakeholders to provide them complete satisfaction and to create sustained value.
Karnataka Bank : Karnataka Bank is a major banking institution based in the coastal city of Mangaluru in Karnataka, India. The Reserve Bank of India has designated Karnataka Bank as an A1+-class scheduled commercial bank.
The bank now has a national presence with a network of 731 branches and above 1230 ATM's across 21 states and two Union territories. It has over 6084 employees and 6.7 million customers, including farmers and artisans in villages and small towns throughout the country. Its shares are entirely privately owned by some 1,29,862 shareholders.
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