Karnataka Bank has launched a “Door-Step Gold Loan” facility named “KBL-Swarna Bandhu” for its customers.
Karnataka Bank has launched a “Door-Step Gold Loan” facility named “KBL-Swarna Bandhu” for its customers. In a statement, Karnataka Bank said this is a unique product for gold loans with end-to-end digitization. Through this product, the Bank will be able to provide Gold Loan Services at the customer’s doorstep.
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Initially, this product will be available to customers in select centres of the Bank and will be gradually rolled out to all the branches of the Bank.
Karnataka Bank is expanding its Gold loan portfolio with an aim to capitalise on the huge market opportunity.
“Doorstep Gold Loan product is a big step towards Bank’s goal of creating a robust and healthy Gold loan portfolio. By leveraging on technology services and Door step service framework, Karnataka Bank aims to focus on quality gold loan portfolio in the ensuing days,” the statement said.
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To implement the doorstep gold loan facility, Karnataka Bank has partnered with SahiBandhu, an aggregator platform for gold loans backed by The Manipal Group. SahiBandhu will act as a Corporate Business Correspondent and a Lending Service Provider.
The statement said that this collaboration aligns with extant guidelines on digital lending and will also help in improving the gold loan portfolio of Bank. “KBL-Swarna Bandhu showcases the comprehensive digital capabilities of both KBL and SahiBandhu,” it said.
Commenting on the initiative, SriKrishnan H, MD & CEO of Karnataka Bank said: “Door Step Gold loan lending model is one of the innovative avenues of lending against gold. “KBL-Swarna Bandhu” shall create a dynamic synergy in the entire gold loan portfolio of the Bank. This arrangement will help us in extending gold loans at the Doorstep of the customers once again proving our Bank’s orientation towards collaborative digital innovations to improve the customer service arena and by this we aim to achieve better Customer Delight.”
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Sekhar Rao, Executive Director of Karnataka Bank said, “Bank is progressing on the Fintech initiatives with strong collaborations with partners in various fields. This initiative is also, one among the many such steps taken by the Bank. Our aim is to see this century-old Bank in a new Digital Avatar.”
Rajesh Shet, Co-Founder and CEO of SahiBandhu said, “As we continue to expand our footprint in the ever-evolving financial landscape, we are excited to announce our strategic partnership with Karnataka Bank (KBL). Our innovative tech platform enables gold loan at the customer doorstep. Through our unwavering commitment to customer-centricity, we continue to excel in the gold loan industry. Together with KBL, we are poised to unlock new opportunities, offering digital-first lending solutions through our gold loan aggregator platform.”
Disclaimer: The above content is for informational purposes only based on a press release by Karnataka Bank. Please read the details carefully before applying for a gold loan.
