Digital
Karnataka Bank launches “Door step Gold loan facility” in collaboration with SahiBandhu
Mumbai: Karnataka Bank, a leading private sector Bank is launching “Door -Step Gold Loan” facility named “KBL-Swarna Bandhu” for its customers, a unique product for gold loans with end to end digitization. Through this product, the Bank will be able to provide Gold Loan Services at customer’s doorstep. Initially, this product will be available to customers in select centres of the Bank and will be gradually rolled out to all the branches of the Bank.
Karnataka Bank is well positioned to expand its Gold loan portfolio and capitalise on the huge market opportunity. Door step Gold Loan product is a big step towards Bank’s goal of creating a robust & healthy Gold loan portfolio. By leveraging on technology services & Door step service framework, Karnataka Bank aims to focus on quality gold loan portfolio in the ensuing days.
To achieve this, the bank has partnered with SahiBandhu, a leading aggregator platform for gold loans backed by The Manipal Group. SahiBandhu will act as a Corporate Business Correspondent and a Lending Service Provider. This collaboration aligns with extant guidelines on digital lending and will also help in improving the gold loan portfolio of Bank. KBL-Swarna Bandhu showcases the comprehensive digital capabilities of both KBL and SahiBandhu.
Karnataka Bank CEO & MD SriKrishnan H has expressed that, “Door Step Gold loan lending model is one of the innovative avenues of lending against gold. “KBL-Swarna Bandhu” shall create a dynamic synergy in the entire gold loan portfolio of the Bank. This arrangement will help us in extending gold loans at the Door step of the customers once again proving our Bank’s orientation towards collaborative digital innovations to improve the customer service arena and by this we aim to achieve better Customer Delight.”
Speaking on this occasion, Karnataka Bank executive director Sekhar Rao stated that “Bank is progressing on the Fintech initiatives with strong collaborations with partners in various fields. This initiative is also, one among the many such steps taken by the Bank. Our aim is to see this Century old Bank in a new Digital Avatar.”
On KBL-Swarna Bandhu launch, SahiBandhu CEO & co-founder Rajesh Shet has expressed that, “As we continue to expand our footprint in the ever-evolving financial landscape, we are excited to announce our strategic partnership with Karnataka Bank (KBL). Our innovative tech platform enables gold loan at the customer doorstep. Through our unwavering commitment to customer-centricity, we continue to excel in the gold loan industry. Together with KBL, we are poised to unlock new opportunities, offering digital-first lending solutions through our gold loan aggregator platform.”
Digital
Ethical AI must benefit society, not dominate it, says WFEB chief Sanjay Pradhan at IAA event
At Mumbai event, ethics expert urges businesses and governments to shape AI responsibly
MUMBAI: Artificial intelligence may be racing ahead at lightning speed, but its direction must still be guided by human conscience. That was the central message delivered by Sanjay Pradhan, president of the World Forum for Ethics in Business (WFEB), during the latest edition of IAA Conversations held in Mumbai.
The session was organised by the International Advertising Association (IAA) and the Artificial Intelligence Association of India (AIAI) in association with The Free Press Journal at the Free Press House on 7 March. Addressing a packed audience, Pradhan called for stronger ethical leadership to ensure AI remains a tool that benefits humanity rather than one that governs it.
“Artificial intelligence has rapidly become one of the most powerful technologies humanity has created,” Pradhan said. “It is unlocking breakthroughs in medicine, science and creativity at a pace unimaginable just a few years ago.”
But he warned that the same technology carries serious risks. AI, he noted, can amplify disinformation faster than facts can travel, compromise privacy, deepen discrimination and disrupt millions of livelihoods. Referencing concerns raised by AI pioneers such as Geoffrey Hinton, often called the godfather of AI, Pradhan stressed that the real challenge is not whether AI will shape the world, but whether humans will shape it with ethics and wisdom.
Structuring his talk around four guiding questions, why, what, how and who, Pradhan introduced the audience to WFEB’s emerging AI Ethics Partnership, a global platform aimed at advancing responsible artificial intelligence. He outlined four priority concerns that demand urgent attention: disinformation, bias and discrimination, data privacy and job security.
To make the idea of ethical AI easier to grasp, Pradhan offered a simple metaphor. Ethical AI, he said, is like a three layered cake. The outer layer represents the visible value ethical AI creates for businesses and society. The middle layer is organisational culture that moves ethics from written codes to everyday practice. The innermost layer, however, is the most crucial, the conscience of individual leaders.
Drawing from Indian philosophical thought through WFEB co-founder Ravi Shankar, Pradhan noted that while artificial intelligence can reproduce stored knowledge, true intelligence is boundless and rooted in conscience, creativity and compassion. Practices such as breathwork and meditation, he suggested, can help leaders develop the calm clarity needed for ethical decision making.
The event also featured a discussion with Maninder Adityaraj Singh, chief of staff and head of innovation at Rediffusion Brand Solutions Pvt Ltd, and Yash Johri, lawyer, Supreme Court of India.
Opening the session, IAA India chapter president Abhishek Karnani, highlighted the need for industries to understand and engage with AI responsibly.
“AI has to be befriended and understood,” added Rediffusion managing director and AIAI national convenor Sandeep Goyal. “Its ethical use will determine whether it becomes a friend or a foe.”
As AI continues to reshape industries and societies, Pradhan ended with a simple but powerful call to action. Businesses, governments and individuals must work together to ensure that the algorithms shaping the future reflect human values rather than just cold logic.
