Corporation Bank

Tata Teleservices ties up with Corporation Bank and PayMate

Tata Teleservices has announced that it has tied a knot with Corporation Bank and PayMate with the aim to roll out a mobile money transfer service in the upcoming 12 months.   

The sources informed that through the proposed service named 'Green Money Transfer', any cell phone user can send as well as receive money directly utilizing their mobiles to authorise the transfer.      

Corporation Bank to raise Rs 100 crore

Corporation Bank to raise Rs 100 croreMangalore-based Corporation Bank has decided to raise Rs 100 crore by issue of bonds on private allotment basis.

The public-sector lender would raise Rs 100 crore by issue of unsecured innovative perpetual convertible Tier-I Bonds Series-I (4) on private placement basis.

The issue would open on August 26 and would close on the same date.

Corp Bank launches new service for accepting income tax

Corp Bank launches new service for accepting income taxCorporation Bank on Tuesday begins an initiative of accepting income tax through its 1,035 plus ATMs.

The bank has become the first bank in the industry to offer this type of facility.

Mr. Ashok Chawla, Finance Secretary, Ministry of Finance, launched the facility.

Corporation Bank launches facility for payment of income tax

Corporation Bank launches facility for payment of income tax Corporation Bank has announced the launch of a facility, through which bank's debit card holders will be able to pay income tax through its ATM network.

The service will be available through its 1,000-plus ATMs spread across the country.

Recently, the lender has secured an approval from the Central Board of Direct Taxes (CBDT) for introducing this facility in the country.

Corporation Bank to raise Rs 700 crore from Tier II bonds

State-run Corporation Bank stated in a communiqué that it has proposed to issue upper tier II bonds for Rs 700 crore on private placement basis.

According to official release, the face value of the unsecured redeemable non-convertible 15-year upper tier II bonds would be Rs 10 lakh per bond.

The 15-year notes carry a coupon rate of 9.15 percent, payable annually, for the first 10 years. This will rise to 9.65 percent for the last five years if the call option is not exercised at the end of the tenth year, the release added.

Corporation Bank Opens Representative Office In Hong Kong

Corporation Bank, a premier public sector bank, on February 16 officially opened its local representative office in Hong Kong.

This is bank’s second international office, including the first local representative office in Dubai opened during last calendar year.

The bank, on February 11, has signed up a contract with Tata Motors for financing purchases made from the Tata group company.

The bank has cut their car loan rates and now offers loan up to 85% on road price, for tenure ranging up to seven years at 11.75% interest per annum.

Tata Motors signs ‘Vehicle financing deal’ with Corporation Bank

TATAIn order to offer an added facility, India's top vehicle maker Tata Motors Ltd has joined hands with public sector lender Corporation Bank to provide retail financing facilities for its passenger vehicles.

Under the arrangement, the lender has lowered its car loan rates and now offers loan up to 85 per cent on road price, for tenure ranging up to seven years at 11.75 per cent interest per annum.

Corporation Bank launches 'SmartCampus' Card in collaboration with IDenizen

Corporation Bank has informed that it has teamed with Bangalore-based IDenizen Smartware Private Limited to launch SmartCampus, a smartcard enabled software package for the education vertical.

SmartCampus, developed by IDenizen, a recognized technology solutions provider, is a student identity card that can be used as a regular ATM-cum-debit card.

Through Visa-powered card, the user can perform multiple activities of an educational institute like payment of admission fees, monitoring student's attendance, library automation and examination result etc.

Corporation Bank gets approval to raise Rs 1200 crore

State-run Corporation Bank has informed that its board of directors at its meeting held on Jul. 29, 2008 has approved the proposal for raising of Tier II bonds to the tune of Rs 1200 crore in tranches.

Earlier the bank issued bonds to the tune of Rs 800 crore.

In today’s announced results, the Corporation Bank has registered a 4 per cent jump in its net profit at Rs 184 crore for the first quarter of 2008-09 as compared to Rs 177 crore in the corresponding period last fiscal.

Pay your LIC premium through Mobile Phones with Corporation Bank’s new service

India’s Insurance giant Life Corporation of India (LIC) and Corporation Bank, a leading public sector bank, have launched Payment of LIC Premium through Mobile Phones for the debit card holders of Corporation Bank.