Karnataka Bank has launched loan automation processing solution called LAPS. The application was already in use for processing gold loans and deposit loans.

Now the process of entire spectrum of credit portfolio including retail, agriculture and corporate sector is fully automated.

The introduction of new system provides higher level of accuracy of MIS data, apart from timely processing of credit proposal. This application will also gradually enable online tracking of MSE application by the loan applicant.
 
Shares of the bank gained Rs 0.6, or 0.48%, to trade at Rs 126.30. The total volume of shares traded was 55,182 at the BSE (12.10 p.m., Tuesday).