Financial Daily from THE HINDU group of publications
Tuesday, Oct 01, 2002
Financial Daily from THE HINDU group of publications Tuesday, Oct 01, 2002 |
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Money & Banking
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Public Sector Banks Corpn Bank adds one more ATM Our Bureau
MANGALORE, Sept. 30 AS part of its ongoing technology initiative, the Mangalore-based public sector Corporation Bank has operationalised yet another automated teller machine (ATM) — its 222nd — in Nagpur. The bank has also shifted its Nagpur branch to the LIC premises there. According to a press release issued by the bank, this is part of Corporation Bank's attempts to "synergise" the strengths of both the bank and LIC. The bank, in fact, plans to establish 100 such units on LIC premises during the current fiscal. This is the 15th of this kind and all the others are expected to be operationalised in the second half of the current year. All this is part of the bank's tie-up with LIC. The bank has taken up sale of LIC products through selected branches. It is also awaiting clearance from the Insurance Regulatory and Development Authority for the sale of bancassurance products. Corporation Bank has 62 branches in Maharashtra, which handle a business of about Rs 8,285 crore, the press release has added.
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