Pics: Spoorthi Ullal
Daijiworld Media Network – Mangalore (DV)\
With Inputs from Media Release
Mangalore, May 11: Corporation Bank has achieved a total business of Rs 284,722 crore as on March 31, 2013, an increase by Rs 48,111 cr with a growth rate of 20.33% as compared to the previous year when the total business stood at Rs 236,611 crore, said Ajai Kumar, chairman and managing director, Corporation Bank.
Addressing a press meet here on Saturday May 11, he said, "This year the bank deposits as on March 31, 2013 have increased to Rs 166,005 crore with credit deposit ratio at 71.51%."
The net profit of the Bank stood at Rs 355.53 crore as on March 31, 2013, an increase by Rs 4.27 crore from last year when the net profit was Rs 351.26 crore.
He also briefed on the innovative techniques adopted by the Bank to provide customers the best financial service at affordable cost. "The Bank has introduced new and innovative techniques like mobile applications for high speed internet banking where transactions and money transfers can be done through mobile phones and tablet PCs,” said Ajay Kumar.
He also added that the overall usage of internet banking had increased by eight times as compared to previous years. "Usage of mobile application is easier and faster and it is available for 365 days 24*7," he added.
The account holder can access various facilities/services through the App using net banking user ID and password. The accountholder can check the current balance of all his linked running accounts including the details of last ten transactions. Funds can be transferred to his own accounts, third party accounts maintained at Corporation Bank and even other Banks using NEFT (National Electronic Funds Transfer). Payments can also be made through IMPS (Immediate Payment Service) to beneficiaries who have got MMID (Mobile Money Identifier) of Corporation Bank or any other Bank by way of P2P (person to person using beneficiary’s MMID and Mobile Number) as well, through P2A (person to account using beneficiary’s account number and IFSC Code). For availing IMPS facility, the customer should register for SMS Banking with the Bank. Other facilities like request for cheque book, stop payment and credit card payment of Corporation Bank can be done through the application.
"The ranking system introduced by Corporation Bank to zonal, circle office on radius parameter became effective which led to high competition," Kumar said.
The Bank has 31 zones across the country and each zone will be conducting a minimum of ten Rural expos. Through Rural expos the Bank plans to create village level awareness on various products and services offered by the Bank with a festive ambience to facilitate easy acceptance. Various social welfare activities like health checkup and eye camps will also form part of the expo for the benefit of the people. It is proposed to conduct more than 300 such camps across the country.
Last year the Bank has introduced the concept of Home and Vehicle Expos across the country which was a huge success not only in creating awareness about the products of the Bank but also facilitated on the spot booking of proposals. Loans were sanctioned in the shortest possible time. Enthused by the success the Bank proposes to carry out at least 30 to 35 such Expos throughout the country.
Executive directors B K Srivastav, Amar Lal Daultani were present.