Media Release

Mangalore, Jan 9: P Vijaya Bhaskar, regional director, Reserve Bank of India, Bangalore addressed
CorpBank executives at the Corporate office of the bank here, recently.

Narendra Singh and Ashwani Kumar, executive directors, general managers and other executives of the bank were present.

Interacting with the executives of the bank, P Vijaya Bhaskar said, “Moving to advanced norms under Base II is an immediate challenge for all the banks”.

Addressing ‘Operational Risk’ as a greater challenge and ‘Trustworthiness’ as an indispensable quality needed for a financial institution, he said that every action of banker should pass through a test of Ethics, Morals and Values. A compromise of the above was perhaps a reason for the western economic crisis which started as a housing loan bubble and graduated to a liquidity and solvency crisis which ultimately transformed into a systemic crisis.

Commending on the performance of the bank in implementation of financial inclusion Bhaskar emphasized that inclusion process commences with a no frill account which is an introduction to the banking facilities, moves on to micro credit, micro insurance etc. and will reach logical end with financial literacy, which should be the aim of every banker.

He interacted with the CorpBank executives and attended their queries. Bhaskar wished that Corporation Bank should become a financial conglomerate providing end-to-end solutions.

Narendra Singh, executive director of the bank welcomed the gathering and Ashwani Kumar, executive director of the bank proposed the vote of thanks.