Karnataka Bank shines on launching ‘KBL Mobile’

Karnataka Bank is currently trading at Rs. 115.10, up by 1.60 points or 1.41% from its previous closing of Rs. 113.50 on the BSE.

The scrip opened at Rs. 114.25 and has touched a high and low of Rs. 115.80 and Rs. 113.60 respectively. So far 2, 98,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 115.80 on 03-Oct-2012 and a 52 week low of Rs. 64.00 on 29-Dec-2011.

Last one week high and low of the scrip stood at Rs. 115.80 and Rs. 103.00 respectively. The current market cap of the company is Rs. 2,167 crore.

The Institutions and Non-Institutions held 18.95% and 81.05% respectively.

Karnataka Bank has launched yet another technology based product, ‘KBL Mobile’ on September 25, 2012 at Bangalore. The bank has also launched its caller tune on this occasion. Mobile Banking Transactions are those where customers undertake banking transactions by using pre registered mobile phones with the bank.

The bank has set the transaction limits based on risk perceptions and it is fixed at the level of Rs 50,000 per day inclusive of all transactions in the high end mobile sets enabled with GPRS/J2ME (encrypted end to end handsets). However, for other mobile handsets, under SMS Mobile Banking (unencrypted format) the limit is fixed at Rs 5,000 per day inclusive of all types of transactions.

Karnataka Bank wants to make use of ‘Mobile Banking Services’ as a ‘Financial Inclusion’ platform by reaching out to large section of people across India. Prior to the launch of ‘KBL Mobile’ the bank offered only information on the mobile. Now with this launch the mobile can be used for transactions such as payment of utility bills, mobile recharge, booking movie tickets, money transfer, online purchase, retail shopping and many other such functions.

The launch of the melodious caller tune is a part of a new initiative in the branding exercise of the bank. The bank has adopted this signature tune so that the customers and other stakeholders across the country may be ensured a pleasant experience while making calls.