Kerala Bank Gets RBI Approval to Launch Internet Banking Services

Thiruvananthapuram: Kerala Bank has received approval from the Reserve Bank of India (RBI) to introduce internet banking services. Customers will now be able to access banking services online without having to visit a bank branch. Internet banking facilities through Kerala Bank will be available to individual customers, primary agricultural credit societies and other institutions. Member societies will also be able to carry out internet banking transactions, including RTGS and NEFT, through their accounts with Kerala Bank.

Kerala Bank introduced a core banking system within a short period after its formation in 2019. It also currently offers the KB Prime and KB Prime Plus mobile banking applications for daily banking services, including UPI transactions.

During the last financial year, ₹16,041.25 crore was transacted through UPI across 9.8 crore transactions. Kerala Bank currently has a market value of ₹1,28,967 crore.