Daijiworld Media Network – Mangalore (NR)
Mangalore, Dec 15: A press release issued by the planning and development department of Karnataka Bank Ltd on December 14 informed that a pact has been signed between Calyon Bank, Mumbai and Karnataka Bank Limited.
Giving details on the pact the press release stated that a “White Label Agreement” has been signed between Calyon Bank, Mumbai, belonging to the Credit Agricole group of France and Karnataka Bank Ltd., to provide risk management services which will enable the bank to provide hedging products like derivatives to the bank’s customers.
In Pic: Nick Green, Global Head, IRDE Business and White Label, Calyon Bank is seen exchanging the Agreement with Shri Ananthakrishna, Chairman, Karnataka Bank Limited, in the presence of other senior executives from both the Banks.