Karnataka Bank Launches KBL Micro Mitra For Micro Enterprises
- Karnataka Bank has launched a new product – ‘KBL Micro Mitra’ – where financial assistance up to ₹10 lakh will be provided to the micro manufacturing and service enterprises either for working capital or for investment purposes.
- Launching the product, Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, said the micro and small entrepreneurs play a vital role in the revival of the economy, both in rural and urban India, besides creating huge job opportunities locally.
- “As the economy is now in revival mode, timely credit assistance is crucial, and I am sure ‘KBL Micro Mitra’ will be a true friend of the micro entrepreneurs,” he said, adding the facility is available across the country through all the branches of Karnataka Bank.
- He said the bank will also come out with the digital version of the product shortly.
- A press statement said on Monday that the facility comes with a simplified procedure at a competitive rate of interest.
About Karnataka Bank-
Karnataka Bank Limited is India’s twelfth largest private sector bank. It is an ‘A’ Class Scheduled Commercial Bank based in Mangaluru in Karnataka, India. Karnataka Bank Limited has a network of 848 branches, 1540 ATMs and 442 e-lobbies/mini e-lobbies across 22 states and 2 union territories.
- Founded – 18th February 1924
- Headquarters– Mangalore, Karnataka
- MD & CEO– Mahabaleshwara M.S.
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