Karnataka Bank launches ‘Retail Assets Centre’ in Bengaluru

Karnataka Bank has launched its first ‘Retail Assets Centre’ (RAC) at JP Nagara in Bengaluru.

A media statement said the idea is to provide a centralized processing hub called ‘Retail Assets Centre’ across all potential business locations / regions bringing together all key departmental functions like business coordination, credit underwriting, credit sanctions, credit operations, disbursements and post-disbursement services under one roof, aimed at catering to the growing demand for retail loan products.

The RAC will cater to all channel partners by offering them easier access and interface to submit applications, faster processing times, ability to track their applications to closure and a service touch point for all their queries. By centralizing the retail assets business, the bank aims to improve operational efficiency and grow its retail loan book multifold over the next few years, it said.

Quoting Srikrishnan H, Managing Director and Chief Executive Officer of Karnataka Bank, the statement said the RACs will be extended to additional locations very soon to serve customers across the country.

“With the growing demand for retail loans, particularly in the housing and mortgage-based loan sectors, the RAC will play a crucial role in making our banking services more accessible and efficient. We will soon be adding the MSME loans as well under the RAC structure,” he said.

Sekhar Rao, Executive Director of the bank, said customers and channel partners will be provided with access to both physical and digital touchpoints for a comprehensive service experience going forward.