Karnataka Bank has entered into partnership with FISDOM

Current Context: On April 10, 2024, Karnataka Bank announced a partnership with FISDOM to offer a 3-in-1 account which includes savings, demat, and trading accounts.

• This service is available through Karnataka Bank’s mobile banking app, ‘KBL Mobile Plus’.
• The partnership aims to enhance the current value proposition by enabling customers to invest in stocks and mutual funds.
• The 3-in-1 facility allows customers to streamline their investment journey by consolidating their demat and trading accounts.
• This integration eliminates the need for multiple platforms, simplifying account management and enhancing the overall user experience.
• Sekhar Rao, the Executive Director of Karnataka Bank, stated that through this partnership, the bank aims to redefine the landscape of financial services by offering a holistic solution that combines convenience, efficiency, and reliability.
• Subramanya SV, the Chief Executive Officer and Co-Founder of FISDOM, expressed his pleasure to expand their association with Karnataka Bank Ltd in order to offer their complete range of investment offerings.

Question:

Q.1 What type of account is Karnataka Bank offering in partnership with FISDOM?
a. Savings account
b. Demat account
c. Trading account
d. All of the above