Since 1947

A REPORT ON THE INPLANT TRAINING

DONE AT

The Corporation Bank - COIMBATORE

Submitted by

DINESH A.S. (09BBM013)

Under the Co-ordination of

J. JOSEPHINE LALITHA, MBA, MPhil

Submitted towards partial fulfillment of the requirement

For the Degree of

Bachelor of Business Management

DEPARTMENT OF MANAGEMENT SCIENCE

PSG COLLEGE OF ARTS & SCIENCE

College with Potential for Excellence

(Status Awarded by the UGC)

Autonomous College Affiliated

To Bharathiar University

Reaccredited with A + Grade by NAAC

ISO 9001: 2008 Certified Institution

Coimbatore – 641 014.

PSG COLLEGE OF ARTS & SCIENCECollege with Potential for Excellence

(Status Awarded by the UGC)Autonomous - Affiliated To Bharathiar University

Reaccredited with A + Grade by NAACISO 9001: 2008 Certified Institution

Coimbatore – 641 014.

Department of management science

This is to certify that Dinesh A.S. (09BBM13) has undergone an In-

Plant training in the company THE CORPORATION BANK , COIMBATORE for the

period of 10 DAYS and has submitted the report on same for the partial fulfillment

for the award of the degree of Bachelor of Business Management.

_________________ ____________________

Faculty coordinator Head of the department

Viva voce held on: _____________

1. Examiner 1: ___________ 2.Examiner 2:___________

DECLARATION

I DINESH A.S. (09BBM013), do hereby declare that this In-Plant

training done at “THE CORPORATION BANK” submitted to PSG COLLEGE OF ARTS

& SCIENCE (Autonomous) Coimbatore, affiliated to Bharathiar University,

Coimbatore for the degree of the Bachelor of Business Management is a record

of original work done by me under the guidance of Mrs.M.Umarani MBA, MPhil,

Lecturer, Department of Management Sciences, PSG COLLEGE OF ARTS &

SCIENCE, Coimbatore.

Place: COIMBATORE Name: Dinesh A.S.

Date: Roll No: 09BBM013

Acknowledgement

It is indeed a great pleasure for me that I acknowledge the contribution and

work done in completing my inplant training successfully.

I acknowledge my heartful thanks to our beloved principal Dr (Mrs.) Sheela

Ramachandran, M.Sc, PGDFScP, & PhD for her encouragement and valuable

support.

I am deeply indebted to Mrs. M. Umarani, MBA, M.Phil Head of the

Department of Management Science, PSG College of Arts & Science for giving

her valuable guidance at all stages.

I whole heartedly thank Mr.Ravindran , Manager Marketing Department

for giving his valuable support and cooperation during the course of project. He

has been a great source of inspiration for me throughout the training. He guided

me with a mastermind and helped me with objective criticisms and perspective

suggestions.

I wish to express my deepest sense of gratitude to my guide Mrs. J. JOSEPHINE

LALITHA, MBA, MPhil, Lecturer, Department of Management Science, PSG

College of Arts & Science for her advice, support and inspiring help through the

inplant training.

Finally I would like to thank all those who helped in doing this training.

THE CORPORATION BANK

THE JOURNEY

Every institution has its start in modest initiatives but what makes it great is the passion of

the people behind it. Carrying the legacy forward with an undaunted commitment to its

vision, the journey of Corporation Bank truly epitomizes this.

Started about 104 years ago in 1906, with an initial capital of just Rs.5000, Corporation

Bank has recorded Rs. 1,67,000 Crore mark in business and even far more, with over 3500

service outlets across the nation, served by committed and dedicated 13,000 plus Corp

bankers. Proof of which is seen in its enviable track record in financial performance. We

have many reasons to cheer, predominant of them is, being able to participate in nation

building by empowering the rural and urban population alike. Today, we are proud that we

are significant contributors to the growth of the country's economy.

Early Movers

Nationalized in 1980, Corporation Bank was the forerunner when it came to evolving and

adapting to the financial sector reforms. In 1997, it became the Second Public Sector Bank

in the country to enter capital market, the IPO of which was over- subscribed by 13 times.

the Bank has many " firsts " to its credit - Cash Management Services, Gold Banking, m-

Commerce, " Online " approvals for Educational loans, 100% CBS Compliance and more

recently, its pioneering efforts to take the technology to the rural masses in remotest

villages through low-cost branchless banking - Business Correspondent model. All of which

symbolize Bank's unswerved commitment to its customers to provide convenience

banking.

At Corporation Bank, what motivates us is the passion to excel in banking by maintaining

highest standards of service to our customers, backed by innovative products and services

which makes us one of the leading Public Sector Banks in the country, catering to a wide

range of customers - from individuals to corporate clients.

The Logo

Sarve Janah Sukhino Bhavanthu

Prosperity for All

The Bank's motto " Sarve Janah Sukhino Bhavanthu " in Sanskrit, which means "

Prosperity for All " is well-professed by the Bank in its day-to-day operations.

The Bank's logo has various components, namely Kamadhenu (denoting wish-

fulfillment), Kalpatharu (eternity), Balance (justice for all), Wheel (industrial progress)

and Wheat Grains (agricultural prosperity) which stand for universal prosperity and as

a wish-fulfilling credo. The logo in its present form was incorporated in 1972 when the

name of the Bank was changed from Canara Banking Corporation (Udipi) Ltd. to

Corporation Bank Ltd.

Corporate Vision

Corporate Vision

" The Most Preferred Bank with Global Standards "

Corporate Mission

v To become a provider of World - Class Financial Services

v To meet Customer expectations through Innovation and Technological Initiatives

v To maintain leadership in inclusive banking

v To enhance stakeholders' value

v To fulfill national and social obligations

v To create an environment, intellectually satisfying and professionally rewarding to the employees

v To emerge as a role model for ethical values and Good Corporate Governance

Chairman & Managing Directors Profile

Shri Ramnath Pradeep

Chairman & Managing Director

Shri Ramnath Pradeep has been appointed as Chairman & Managing Director of

Corporation Bank. He has assumed the office of Chairman & Managing Director

of the Bank on 1st September, 2010.

Before his appointment as Chairman & Managing Director, Shri Ramnath

Pradeep was Executive Director of Central Bank of India.

Shri Ramnath Pradeep is a Law Graduate and a Post Graduate in Economics. He

is a recipient of Government of India’s merit scholarship. After completion of

LLB, Shri Pradeep practiced for a short period and joined Madhya Pradesh

Financial Corporation as a Law Officer. He Joined Dena Bank in the year 1981 for

a brief period and thereafter joined ONGC Off-Shore Project at Mumbai. In 1984,

Shri Pradeep again joined back Dena Bank as Senior Manager [Legal].

He was promoted as a Chief Manager in the year 1989 and had held various

positions. He was instrumental in launching of Credit Card for Dena Bank and

also setting up one of the first Asset Recovery Branches in Public Sector Banks.

He was promoted as Assistant General Manager in 1994 and headed as the

Regional Manager of Bhopal region. He than headed the Industrial Finance

Branch, Mumbai as the Deputy General Manager. He was promoted as General

Manager of the Bank in the year 1999 and he worked in various areas like

Treasury, Recovery Management, Asset Liability Management etc.

In the year 2001 he was posted as the Chief Vigilance Officer in the Scale of

Deputy Managing Director in State Bank of India and thereafter re-appointed to

Bank of India as Chief Vigilance Officer till 2004 and then as General Manager

(Legal & Recovery) upto 2005. During his tenure, he supported Bank’s effort to

implement Core Banking Solutions (CBS), an outsourcing model, which got

appreciation from International Community for best outsourcing model.

After completion of his deputation at Bank of India, Shri Pradeep joined his

parent bank Dena Bank in January 2006. He was the in-charge of IT department

and CBS implementation. The CBS was successfully implemented along with

most of other solutions in the Bank.

He took charge as Executive Director of Central Bank of India in December 2008.

During his tenure the Bank started moving forward in terms of retention of the

customers and restoring confidence among employees at all levels, customers

and Regulatory Govt. Authorities

Profile of Executive Directors

Shri Narendra Singh, Executive Director, Corporation Bank

Shri Narendra Singh, General Manager of Allahabad Bank has been appointed as

the Executive Director of Corporation Bank by the Government of India.

Shri Narendra Singh, a Graduate in Science and Law, started his career as directly

recruited Officer in Allahabad Bank in 1980. In the year 1985 he was appointed

as the Senior Law Officer in Middle Management Grade III of Allahabad Bank.

He worked in different capacities in various branches, Regional/Zonal Offices,

Administrative Office of Allahabad Bank during his banking career spanning

three decades.

As Zonal Head, Shri Narendra Singh served the bank at Kolkata, Behala, Siliguri

and Barasat centres in West Bengal and led the Fund Management and Accounts

Division at the Head Office of Allahabad Bank. Later on, he headed the Bank's

Zonal Offices at Mumbai and New Delhi.

He attended many training programmes covering various areas of banking

including Emerging Dimension in General Insurance in Nepal, Managerial

Effectiveness, Management Education Programme, etc.

Shri Narendra Singh headed the Planning, Development, Marketing, Publicity,

Anti-Money Laundering & KYC Divisions of Allahabad Bank till his elevation to

the post of Executive Director.

A versatile banker, Shri Narendra Singh carries with him three decade of rich

Banking experience.

Shri Narendra Singh joined Corporation Bank and took charge as the Executive

Director of the Bank on 7th December 2009.

Shri Ashwani Kumar, Executive Director, Corporation Bank

Shri Ashwani Kumar, General Manager of Allahabad Bank has been appointed as

the Executive Director of Corporation Bank, for a period of 5 years, by the

Government of India.

Shri Ashwani Kumar, M.Sc., CAIIB, started his career as a Probationary Officer in

Allahabad Bank in 1981 and rose to the executive cadre in 2000.

He worked in different capacities in various Branch/Offices and Administrative

Office of Allahabad Bank during his banking career spanning over 29 years.

As Branch Head, Shri Ashwani Kumar served Allahabad Bank in International

Branch-New Delhi, Fort Branch-Mumbai. Shri Kumar has a vast experience in

banking both at operational level and administrative level. He has exposure both

in rural development and treasury operations, having worked as Lead District

Manager, Lakhimpur Kheri and also as Head of Treasury at Integrated Treasury

at Mumbai.

He has worked as Forex Dealer for around five years and started the Bullion Desk

in the year 1998 at Bank’s International Branch, New Delhi.

As Assistant General Manager, he headed Lucknow Branch and on elevation

served as Executive Assistant at Chairman’s Secretariat, Head Office as Deputy

General Manager.

On his elevation to the cadre of General Manager in the year 2006, Shri Ashwani

Kumar, headed the bank’s Planning & Development Division, at its Head Office.

In the year 2008, he was designated as the Field General Manager and served at

New Delhi, until his promotion and appointment as Executive Director of

Corporation Bank.

Management

Board of Directors

Board of Directors

Shri Ramnath Pradeep Chairman & Managing Director

Shri Narendra Singh Executive Director

Shri Ashwani Kumar Executive Director

Shri Lalit Kumar Nominee Director reprersenting Central Govt.

Smt. Grace Koshie Nominee Director representing R.B.I.

Shri V. Raghuraman Workmen Employee Director

Shri Kaushik Kumar Ghosh Officer's Employee Director

Shri Raj Kumar Agrawal Part-time non-official Director

Shri Suvarna Sanyal Part-time Non-official Director

Shri Venkatrao Y. Ghorpade Part-time non-official Director

Shri Hiren Mehta Shareholder Director

Shri Thomas Mathew T. Shareholder Director

Shri Ajay Garg Shareholder Director

General Managers

Shri U. Balakrishna Bhat Chief General Manager

Shri B. R. Bhat General Manager

Shri K. Rama Murthy General Manager

Shri H. M. A. Khan General Manager

Shri N. R. Shet General Manager

Shri C. V. R. Rajendran General Manager

Shri B. N. Satish General Manager

Shri C. G. Pinto General Manager

Shri H. S. Saini General Manager

Shri M. P. Kunju General Manager

Shri Sajeev Krishnan CVO & General Manager

Shri Yudhvir Singh Jain General Manager

Shri B. Narayana Shenoy General Manager

Shri S. Pattabiraman General Manager

Shri K. Giridhar Shenoy General Manager

Shri B. Lakshmi Narayana General Manager

Shri P. Rajaram Karanth General Manager

Shri K.V. Raghava Kamath General Manager

Shri B.K. Divakara General Manager

Shri P. Suresh Chandra Baliga General Manager

Shri Jai Kumar General Manager

Mrs. Swathi S. M. General Manager

Deputy General Managers

Deputy General

Managers

Shri Kishore G.

Shanbhogue

Shri K.G. Subramanian Shri Shrikant

Shri Sadashiv Leeladhar Shri Tejappa B. B. Shri Lakshminatha

Reddy

Shri K. S. Kalyana

Sundaram

Shri K. Govinda Bhat Shri C.K. Gopal

Shri R. Sudarshana Raju Shri Rishi Pal Arora Shri Prakash Hebbar D.

Shri Ajit Prakash Malhotra Dr. Kurian P. Abraham Shri Guruharinadha Rao

Shri M. R. Kamath Shri Vijay Walia Shri Purnachandra Rao

D.

Shri B. Vaman Baliga Shri D. M. R. Muzumdar Shri Gopalakrishna Bhat

K.

Shri M. G. Bhandarkar Shri P. V.

Chandrasekaran

Shri Prabhakar Shenoy

Shri M. Gokuldas Kamath Shri Rakesh Srivastava Col. K.G. Ramesh Kumar

Shri Paramasivam Shri P. V. Narasimha

Rao

Shri K. Kamalaksha

Nayak

Shri N. Muralidhar

Kamath

Shri N. B. Kulasekaran Shri H. S. Srinath

Shri Vasanth Kini U. Shri U. N. Kumar

Acharya

Shri Augustine K. J.

Shri M. Narayana Bhat Shri S. Narendra Pai Shri Prabodh Kumar

Datta

Shri Thangaraju V. Shri K. Ramadas Prabhu Shri Alok Kumar Gupta

Shri V. K. Aggarwal Shri P. Shivaram Bhat

Shri V. S. Karthikeyan Shri R. Natarajan

Ratings & Awards

Domestic Term Deposits [ % per annum with effect from 3rd January, 2011]

Duration Less than Rs.15 Lakh

Rs.15 Lakh to less than Rs.1 Crore

Rs.1 Crore to less than Rs. 5 Crore

7 days to 14 days _ _ 4.00

15 days to 29 days 2.75 2.75 4.00

30 days to 45 days 4.50 4.50 5.00

46 days to 60 days 5.50 5.50 5.60

61 days to 90 days 5.50 5.50 5.60

91 Days to less than 6 months

6.75 6.75 6.75

6 months to less than 9 months

7.40 7.40 7.40

9 Months to less than 12 Months

8.00 8.00 8.25

12 Months only 8.50 8.50 8.50

12 months to Less than 2 Years

8.25 8.25 8.50

2 Years to less than 3 Years

8.25 8.25 8.25

3 Years to less than 5 Years

8.35 8.35 8.25

5 Years & above 8.50 8.50 8.25

These rates are Per Annum and are applicable to fresh and renewal of maturing

deposits on or after the effective date.

Penalty for pre-mature withdrawal at the rate of 1% p.a. will be charged on all fresh &

renewed deposits on all maturities with effect from 8th November 2010. However,

penalty for premature withdrawals is waived for deposits of Rs. 50 Crore and above

accepted/renewed for a period upto 91 days w.e.f. 25.11.2010.

The revised rates will apply to fresh deposits accepted and on renewal of deposits

maturing on or after the effective date [i.e. 3.01.2011 ]. However, in case of premature

renewal of deposits, including staff deposits, penalty of 1% will be applied, for the

deposits accepted on or after 25.11.2010.

The additional rate of interest of 0.50% to the Term Deposits of Senior Citizens has been

restored w.e.f. 23-12-2010. (as against 0.25%) over and above the Card rates, for Term

deposits below Rs.1 Crore for the maturity period of 91 days and above only.

Additional rate of interest for Senior Citizens is not available for deposits of Rs.1 Crore &

above.

NRE TERM DEPOSITS

[ % per annum with effect from 1st January, 2011 ]

Period Rate

1 year to less than 2 years 2.53%

2 years to less than 3 years 2.60%

3 years to 10 years 3.09%

The above revised interest rates will apply only to fresh deposits accepted w.e.f. 1st January, 2011. However, for the renewal of deposits within 14 days from due date (both days inclusive), the rate of interest payable on the amount of the deposit so renewed shall be the appropriate rate of interest for the period of renewal, as prevailing on the date of maturity or on the date when the depositor seeks renewal, whichever is lower

Please Note: NRNR and NRSR Schemes have been discontinued with effect from 1st April 2002.

No NRE Term Deposit will get any interest, if closed prematurely before completion of 1 year from the date of deposit

Interest Rate applicable for NRE Savings Bank Deposits is 3.50% P.A.

Interest Rates on FCNR(B) Deposits

[With effect from 01.01.2011]

Period USD GBP EUR AUD CAD

1 year to <2 years 1.78 2.51 2.47 6.68 2.90

2 years to <3 years 1.85 2.51 2.57 6.40 2.85

3 years to <4 years 2.34 2.94 2.92 6.52 3.13

4 years to <5 years 2.79 3.34 3.22 6.76 3.40

5 years 3.22 3.65 3.52 6.87 3.63

v The above revised interest rates will apply only to fresh deposits and on renewal of deposits maturing on or after 1st January, 2011

v With regard to interest rates on RFC accounts denominated in USD, GBP and EUR, we advise that:

v Interest rate on RFC-SB accounts in USD, GBP & EUR is 0.50% p.a.

v On RFC-Term deposits The rates are applicable to RFC deposits for respective tenures upto 3 years. In case of RFC deposits with maturities less than one year (1 month, 2 months, 3 months and 6 months) the interest rate shall be prevailing LIBID less 24 basis points for the respective maturities and the same shall be advised to DBs and Zonal Offices by IIBD, Mumbai.

v In case of RFC deposits for periods beyond one year and up to a maximum of 3 years the rates as applicable to FCNR (B) deposits of respective tenures shall apply.

Good News for Savings Bank Account Holders:"Interest on Savings Bank Accounts will be calculated based on daily products [ on the day end balances] effective from 01.04.2010 and will be credited to the accounts on half-yearly basis as per the existing practice".

Rates at a Quick Change:

Interest rates are liable to change without prior notice

INTRODUCTION

R.T.I ACT

The Government of India resolved that in order to ensure greater and more effective

access to information, it is required that the Freedom of Information Act, 2002 must be

made more progressive, participatory and meaningful. On this issue, National Advisory

Council suggested certain important changes. In view of the significant changes

proposed by the National Advisory Council and others, it was decided to repeal the

Freedom of Information Act 2002 and enact law for providing an effective framework

for effectuating the right of information recognized under Article 19 of the Constitution

of India. To achieve this objective The Right to Information Act 2005 was enacted by the

Parliament R.T.I. Act which received the President’s assent on 15th June 2005.

All Public Sector Banks are “Public Authorities” for the purpose of the Act and are

governed by the provisions of the Act. Keeping in view the provisions of the Right to

Information Act, and also our image as an organization which is working in a transparent

manner, observing good corporate governance principles, we disclose in the following

pages the information regarding working of our organization, for the benefit of our

customers and general public.

CORPORATION BANK

1.0 The particulars of our Organisation, functions and duties: Sec.4(1)(i)

The Bank, earlier known as The Canara Banking Corporation(Udupi)Ltd. started its

operation on 12th March 1906 at Udupi, a temple town in Karnataka. It was founded by

Mr. Khan Bahadur Haji Abdullah Haji Kasim Saheb Bahadur, a philonthropist with a view

to encourage thrift among all. The name of the Bank was changed to ‘Corporation Bank

Ltd.’ on 26-4-1972. The Bank was nationalized on 15th April 1980 as per the provisions

of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.

The Bank, carries on the business of banking as envisaged under the provisions of

Banking Regulation Act 1949. Being a nationalized bank, it functions under the overall

guidance of Ministry of Finance, Reserve Bank of India and the Board of Directors of the

Bank. As on 31-3-2007, the bank had 901 branches spread across 23 States and 2 Union

Territories , 47 Extension Counters and 929 ATMs across the country. The Bank has a

three tier organizational structure consisting of Corporate Office, 19 Zonal Offices and

the branches. The Bank is listed in Stock Exchange, Mumbai with stock code 532179 and

National Stock Exchange with the code ‘CORPBANK’. The financial results of the Bank

are not only submitted to Stock Exchange on quarterly basis but also published in one

national newspaper and one regional language newspaper. The financial performance

of the bank for the last 10 years is furnished in Annexure-I-A.

The main functions of the Bank are as under:

1. Acceptance of deposits from the public

2. Deployment of funds by lending

3. Anciliary business such as remittances, collection, locker business, foreign exchange

services etc.

4. Agency Business such as distribution of LIC Policies, Mutual Fund products, collection

of taxes/excise etc.

The financial results, general shareholder information, shareholding pattern etc, are put

in the website of the Bank www.corpbank.com.

2.0 The Powers and Duties of Officers and Employees: Sec.4(1)(ii)

The powers and duties of the Officers and Employees are incorporated in the policies

laid down by the bank with the approval of the Board. The top management, executives

and other officials discharge their duties in furtherance of the business plan objectives

framed by the bank from time to time. The delegated powers are periodically reviewed

by the Board and necessary revision is made for effective functioning of the Bank.

3.0 The procedure followed in the decision making process including channels of

supervision and accountability: Sec.4(1)(iii)

The Bank has a three tier organizational set up consisting of branches, Zonal Offices and

Corporate Office. The decision making process is based on the delegated power to each

units. The Board of Directors of the Bank or its Committees are empowered to

formulate policies regarding the delegation of powers to various functional heads. The

Board of Directors, in turn, are guided by the policies of Government of India and

Reserve Bank of India in formulating policies for implementation by the Bank.

4.0 The norms set by the Bank for the discharge of its functions: Sec.4(1)(iv)

The Bank believes that sound principles of corporate governance are important keys to

success, as these enhance the ability to secure the confidence of its stake holders. Good

corporate governance starts at the top, both with the Board of Directors and the

Management who take appropriate steps in meeting highest standards of excellence.

The ethos of the Bank aims at:

a) Maximising long term shareholder value in a legal and ethical manner.

b) Ensuring fairness, courtesy and dignity in all transactions within and outside the bank

with customers, employees, investors, partners, competitors, the Government and the

Society.

c) Open, transparent and merit based Management

5.0 The rules, regulations, instructions, manuals and records held by it or under its

control or used by its employees for discharging its functions: Sec.4(1)(v)

The bank is guided by the circulars/instructions issued by Ministry of Finance, Reserve

Bank of India and Indian Banks’ Association from time to time. However, these

circulars/instructions are voluminous and it is difficult to incorporate the same here and

they may be obtained from the Public Information Officers on request. The Bank has

also brought out manual of instructions on various functional areas for the benefit of

employees. The list of such manuals is furnished in Annexure-I-B The Bank has also

published desk cards for the benefit of employees working in different counters. The list

of such desk cards are furnished in Annexure-I-C. These manuals/desk cards are being

updated from time to time. The Bank is also issuing circular instructions on various

issues which are required to be implemented by our branches/offices. As these circulars

are voluminous, it may not be possible to publish the same here. However, specific

request, if any in this regard will be considered by Public Information Officers.

6.0 A statement of the categories of documents that are held by it or under its control:

Sec.4(1)(vi)

In view of multitude of functions and geographical spread of branches/offices, it is

impractical to publish the statement of the categories of documents held by us.

However, specific request, if any, in this regard will be considered by the Public

Information Officers.

7.0 The particulars of any arrangement that exists for consultation with or

representation by the members of the public in relation to the formulation of its

policy or implementation thereof :Sec.4(1)(vii)

There is no arrangement for consultation with the members of the public in formulation

of policies by the Bank. However, the general public aggrieved by the policies of the

Bank may air their grievances through the various channels available to them as

indicated in the subsequent paragraphs.

8.0 A statement of the Board, Councils, Committees and other bodies consisting of two

or more persons constituted as its part or for the purpose of its advice and as to

whether meetings of these boards, councils, committees and other bodies are open to

the public, or the minutes of such meetings are accessible for public: Sec.4(1)(viii)

8.1 The Board of Directors:

The Board is constituted in accordance with the Banking Companies (Acquisition and

Transfer of Undertakings)Act 1980 and Nationalised Banks (Management &

Miscellaneous provisions)Scheme 1980 and is represented by persons with diversified

professional experience. The Directors bring in wide range of expertise and experience

to the Board, facilitating proficient and unbiased direction and control to the Bank.

8.2 The Board has constituted various committees as under, which provide specific and

focused governance in the important functional areas and control affairs of the Bank.

8.2.1 Management Committee:

The Management Committee is constituted as per the provisions of Nationalised Banks

(Management and Miscellaneous provisions) Scheme 1980 and consists of 6 Directors.

8.2.2 Audit Committee:

The formation and functioning of Audit Committee is governed by the directions of RBI.

The Audit Committee provides direction as also oversees the operation of the total

audit functions in the Bank and follow up the statutory/external audit of the Bank and

inspection of RBI.

8.2.3 Departmental Promotion Committee:

The Committee assesses the disciplinary cases and promotions to top executive cadre in

the Bank.

8.2.4 Investor Grievance Committee:

The Committee looks into the redressal of investor grievances.

8.2.5 Information Technology Committee:

In the changing environment, to suit the growing needs of customers, the Bank has

been taking various initiatives. To guide the bank for accelerated implementation of

these projects and also to explore the possibility of providing innovative technology

based products, this Committee has been constituted.

8.2.6 Risk Management Committee:

The Committee was formed to guide the bank in respect of integrated risk

management.

8.2.7 Committee to monitor large value frauds:

With a view to provide focused attention on monitoring frauds of Rs.1 Crore and above,

this Committee has been formed.

8.2.8 Share Transfer Committee:

In order to meet the request of the shareholders such as transfer, rematerialisation and

duplicate shares, the Committee was constituted.

8.2.9 Customer Service Committee:

With a view to safeguard the individual customers right and to deliver better customer

service, the Committee was constituted.

8.3 The Board and its Committees meet at frequent intervals and guide the bank to

achieve its objectives in a prudent and efficient manner and to ensure high standards of

customer service, ethical practice and professional management of the Bank. The

responsibilities such as policy formulation, performance review analysis and controls are

discharged by the Board and its Committees.

8.4 It may be noted that the meetings of the Boards or Committees are not open to the

public and the minutes of such meetings are also not accessible to public.

9.0 A directory of Officers and Employees of the Bank: Sec.4(1)(ix)

As the number of employees is quite large and they are liable to transfers, it is not

possible to publish the list of Officers and keep the same updated from time to time.

Any person interested in seeking information about any Officer or Employee of the Bank

can approach the Public Information Officer in that behalf.

10.0 The monthly remuneration received by eachof the officers and employees

including the system of compensation as provided in the regulations of the Bank:

Sec.4(1)(x)

The information about the salary and remuneration paid to officers and employees can

be obtained from the Public Information Officer.

11.0 The budget allocated to each of its agencies, indicating the particulars of all plans,

proposed expenditure and reports on disbursements made: Sec.4(1)(xi)

There are no plans and budgets for expenditure and disbursements, although there are

targets furnished to the various functionaries at branches/Zonal Offices for mobilizing

deposits, advances, non-interest income etc.

12.0 The manner of execution of subsidiary programmes, including the amounts

allocated and the details of beneficiaries of such programmes: Sec.4(1)(xii)

There are no subsidiary programmes or plans for lending activity of the bank. However,

the bank has various lending schemes to cater to the different sections of the society

and details are available in our website www.corpbank.com.

13.0 The particulars of recipients of concession, permits or authorization granted by

the Bank: Sec.4(1)(xiii)

The bank has not granted any concession, permits or authorization and the business

activity of the bank has no relationship with any public activity or public interest.

14.0 Details in respect of the information, available to or held by it, reduced in an

electronic form: Sec.4(1)(xiv)

Any person requiring information in this regard may approach the Public Information

Officer.

15.0 The particulars of facilities available to citizens for obtaining information,

including the working hours of a library or reading room, if maintained for public use:

Sec.4(1)(xv)

All our branches/offices observe 15th of every month as ‘Customer Day’ and on that day

customers/public may approach the unit heads without any prior appointment. In large

branches, ‘May I Help You’ counters are provided wherein the public can obtain the

information. The following documents are also available in all our branches/offices

which provide the details of the facilities available to customers and the grievance

redressal mechanisms.

v Deposit Policy

v Citizen Charter

v Fair Practice Code

v Fair Practice Code for Lenders

v Fair Practice Code for Credit Card operators

16.0 The names, designation and other particulars of the Public Information Officer:

Sec.4(1)(xvi)

Please refer item No.18

17.0 Such other information as may be prescribed and thereafter update these

publications every year: Sec.4(1)(xvii)

Any person interested to know more about our bank, may visit our Website

www.corpbank.com. or may send their queries to query @ corpbank.co.in Further, any

suggestions, complaints etc. may be sent to Public Information Officer for necessary

action.

18.0 Public Information Officers & Appellate Authorities at Head Office & Zonal Offices

of the Bank:

As per Section 5(1) of the Act, we hereby designate the following as Public Information

Officers for providing information to persons requesting for the information & Appellate

Authorities under the Act.

Any person interested to know more about our bank, may visit our Website

www.corpbank.com. or may send their queries to query @ corpbank.co.in Further, any

suggestions, complaints etc. may be sent to Public Information Officer for necessary

action.

List of Public Information Officers & Appellate Authorities:

19.0 Procedure for Obtaining Information:

19.1 Any person who desires to obtain any information under this Act, shall make a

request in writing or through electronic means in English or Hindi o in the official

language of the area in which the application is being made, accompanying such fee as

may be prescribed to public information officer, specifying the particulars of

information sought by him or her.

19.2 An applicant making request for information shall not be required to give any

reason for requesting the same or any other personal details except those that may be

necessary for contacting him.

19.3 The Public Information Officer, on receipt of a request, shall as expeditiously as

possible and in any case within 30 days of the receipt of the request either provide the

information on payment of prescribed fee or reject the request for specified reasons.

19.4 When the information sought for concerns the life or liberty of a person, the same

shall be provided within 48 hours of the receipt of the request.

19.5 If the Public Information Officer fails to give decision on the request for

information within the period specified, it shall be deemed to have refused the request.

19.6 No fee shall be charged from the persons who are below the poverty line as per

State Government.

19.7 The person making request; for the information shall be provided the information

free of cost if the bank fails to comply with the time limit specified above.

19.8 When a request has been rejected, the Public Information Officer shall

communicate to the person making the request:

a) reasons for such rejection

b) the period within which an appeal against such rejection may be preferred and

c) the particulars of the appellate authority

19.9 Any person who does not receive a decision within the time stipulated above, or is

aggrieved by the decision, may within 30 days from the expiry of such period, can prefer

an appeal to such Officer who is senior in rank.

19.10 Exemption from disclosure:

Not withstanding the above, the bank may not disclose information about the affairs of

the customer as it cause unwarranted invasion of privacy of the customer or such

information has no relationship with any public activity or interest as envisaged by

Section 8(i) (j) of the Act.

20.0 Schedule of Fees/Charges:

As per the Right to Information (Regulation of Fee & Cost) Rules 2005, the following

schedule of fees/charges has been prescribed:

a) Application fee - Rs.10/-

b) Charges for each page (A4, A3 size paper) - created or copied -Rs 2 per page.

c) In case of larger size paper - Actual charges incurred

d) For information provided in diskettes or floppies - Rs.50/- per diskette or floppy.

e) For information provided in printed form - at the price fixed for such publication or

Rs.2/- per page of photo copy for extracts from the publication.

f) For inspection of records - No fee for the first 15 minutes and a fee of Rs.5/- for each

15 minutes or fraction thereof.

g) The application fee/other charges should be paid by cheques / DDs drawn on

"Corporation Bank A/c - Public Information Officer" and they should be made payable at

the centers where the office of the Public Information Officer is located.

RD Plus: Special RD deposit scheme

RD PLUS Deposit :

Recurring deposit is a scheme in which the depositor remits small amounts of money in

monthly instalments for a fixed period, to meet certain future

commitments/contingencies, at the end of which the accumulated deposit together with

interest is repaid to him/her. RD is safe, free from market risk/volatility and comes with

assured returns.

RD PLUS, The new offering from Corp Bank offers much more…

FREE PERSONAL ACCIDENT COVER of Rs.1.00 lakh

All accounts opened up to March 2011 are eligible for Personal Accident cover of Rs.1.00

lakh only, through out the RD term.

SPECIAL DISCOUNT TO BUY GOLD COINS [on maturity]

On maturity, the customers may take the proceeds in cash or use the proceeds to buy

GOLD COINS at a special discount as under:

Coin Denomination Concession Rs.

4 gms 100/-

5 gms 125/-

8 gms 200/-

20 gms 300/-

50 gms 400/-

To be eligible for this concession, the account must have completed its full term as per the

Scheme Guidelines.

New Corp Premium Deposit

New Corp Premium deposit scheme, for 33 months with 7.50% p.a.

1. Period of Deposit:

The deposit will be accepted for a fixed period of 33 Months

2. The Target Group:

The scheme is targeted towards individuals/ trusts/ institutions who keep the deposits for

a medium term.

3. Eligibility:

Any person entitled to open a domestic term deposit can open the NEW CORP PREMIUM

deposit account.

4. Amount:

Maximum amount will be less than Rs.1.00 crore.

5. Rate of interest:

7. 50 % p.a.

6. Deposits in the name of Senior Citizens/ Staff:

Additional interest payable to Senior Citizens/Staff as per the rules of the Bank as

applicable to domestic tem deposits is paid on this deposit also.

7. Premature closure:

The premature closure is permitted like any other domestic term deposits. The rate of

interest will be the rate applicable for the run period less premature penalty as applicable

from time to time. [1% for all deposits irrespective of amount of deposit, w.e.f. 08-07-

2008]

8. Renewal before maturity:

Renewal before maturity is be permitted as per RBI guidelines.

9. Loans against deposit:

Loan against deposit is permitted as per existing norms with regard to rate of interest and

margin applicable for loans against domestic term deposits.

10. Operational period:

The scheme is presently kept open for a limited period from 26-07-2010 to 15-09-2010.

11. Systems and Procedures:

As applicable to existing domestic KCC/FD (as opted by the party/depositor) The existing

Account Opening Form for Term Deposits can be used for NEW CORP PREMIUM deposits

also. Branches are advised to adhere to the systems & procedure applicable to Term

deposits in case of deposits accepted under NEW CORP PREMIUM.

12. Other Aspects:

All other aspects like transfer of accounts, settlement of claim in case of death of the

depositor, extension of Nomination facilities, calculation/payment of interest, effecting

TDS, renewal of overdue NEW CORP Premium Deposits, etc will be as applicable to normal

domestic term deposits.

Savings Bank Account

Open a Savings Bank account with CorpBank to enjoy a host of hi-tech services and

facilities.

International Debit Card - To shop at merchant establishments and to withdraw cash at all

Visa ATMs worldwide. You can access CorpBank's network of online interconnected ATMs

and also avail the National Electronic Funds Transfer [NEFT] facility through CorpBank

ATMs across the country.

Internet Banking facility - Access your account from anywhere in the world

Any Branch Banking - With all our branches of the Bank networked across India, you can

now bank with the Bank and not just a Branch. Access and transact in your account from

any of the networked branches. Deposit / Withdraw Cash to / from your account, Instant

Fund Transfers to any account at these branches, Deposit local cheques at remote centres

for credit of your account elsewhere.

SMS Banking facility - Access your Bank Account and carry out variety of banking

transactions through your mobile phone.

Corp Power Cheq - Multi City Cheque Facility: A powerful facility wherein your cheques are

now payable at par at all CorpBank Branches. Available to select SB account holders.

Other facilities - Passbooks / Account statements, Cheque books, Tax Payments, Insurance

& Mutual Funds, Standing Instructions and all other facilities that you have been enjoying

with us for more than 103 years now.

Quarterly Average Balance - Rs 250/- at Rural Branches and Rs 500/- at other Branches.

Non-maintenance of QAB attracts a service charge of Rs 75/- per quarter.

Who can Open

a) An individual in his/her own name

b) Individuals in their joint names with suitable repayment instructions

c) Minor represented by parent/guardian

d) Minor students above 10 years

e) Clubs, Societies, Associations, Trusts, Executors, Educational Institutions, Administrators,

HUF, etc.

Documentation Required

a) One passport size photograph

b) Identity Proof

c) Address Proof

Corp Classic Savings Bank Account

Corp Classic High tech Hassle Free Savings Account

Corp Classic - High Tech Hassle Free Savings Account

A combination of Savings Bank and Term Deposit features. Amount over and above the minimum

balance of Rs. 15000/- in CLSB portion of the account will be automatically converted into term

deposits in units of Rs.1000/- each (subject to a minimum of 5 units to start with and in multiples of

5 units of Rs. 1000/-each thereafter). Whenever a cheque is issued, and there is shortage of surplus

funds over and above the minimum balance, units of terms deposit are broken in such a manner so

as to cause least loss to the depositor, the same is credited to the CLSB Account and cheque is

passed.

Special features : Facilities like, Auto Renewal Option of Deposits, Minimum Period Maximum

Interest - option, Reinvestment Option, Periodical payment of interest [monthly/quarterly/half-

yearly/ yearly] in case of FD, Fixed Maturity Date, are also available in this Scheme. International

Debit Cards and SMS Banking facility are provided FREE of cost.

Period of Deposit : Deposit can be opened for a period of 15 days to 3 years as per the customers’

choice.

Auto opening and closing of term deposits digitally by the system is another prominent feature of

this scheme. No need to remember, no need to visit the Branch to convert excess balance in

Savings Bank account manually to term deposits/ remember the maturity dates of term deposits.

No handling of multiple Deposit Receipts. A comprehensive Pass Book will be given.

Rate of Interest : 3.5% on daily balances maintained in SB portion and applicable interest rates for

balance maintained in term deposit portion. For current interest rates for term deposits,

click here

Interest Payment : On or before 10th of February / August every year for amounts maintained in

SB portion and monthly / quarterly for amounts in term deposits.

Other facilities : All other facilities as available for Regular Savings Bank account are also available

Minimum Balance : Rs 15,000 at all Branches

Corp PayRoll - Salary SB Account

The Salary Savings Bank Account, Corp PayRoll from CorpBank is aimed at providing a

“Hassle Free" PayRoll Administration Solution for all types of organizations.

Eligibility Conditions

v Organisation should have a minimum of 25 employees

v Average Salary payout to be more than Rs 10,000 or Total Monthly Salary Payout to be

more than Rs 2.5 lakhs

Advantages to the Employer

v Reduces hassle of payroll administration

v Needs to provide salary details in prescribed file format along with one consolidated

cheque

v Can even make salary payment online through the Bulk Pay facility of Internet Banking

Advantages to the Employee

v Accounts can be opened with Zero Balance

v Salary directly credited to the account of the employee

v SMS Alert when Salary is credited

v TOD facility available in case of emergency

Special Features

v TOD facility upto 50% of net salary – for those employees whose salary is more than Rs

10000 p.m

v Free remittance be means of DD/PO upto Net Salary

Other features

v International VISA Debit Card

v Access to 1060+ CorpBank ATMs and 15000 VISA

ATMs

v Any Branch Banking & Multi City Cheques

v Internet Banking

v SMS /Mobile Banking

v LIC Premium Payment through SMS / CorpBank ATMs

v Inter Bank Funds Transfer (NEFT) through Internet

Banking/ATMs/SMS/Branches

v VISA Money Transfer

v Gold Coins

v Mutual Funds

v Direct Tax Collections

v And all other facilities as applicable to Savings Bank Accounts

Open PayRoll account with us to ease your salary administration process and let your

employees enjoy world class facilities.

Corp New Gen - Students' SB account

Corporation Bank is pleased to inform the introduction of a new Savings Bank account

targeted at the student community. The Corp NewGen - Students SB a/c has several value

added services. The accounts have a reduced quarterly average balance, concession in

service charges for issuance of DD/PO, collection of cheques, ABB transactions, Free Debit

Card etc. The important benefits / features of the Corp Student SB a/c are as under:

Who can open the Account?

Only students who have completed 10 years of age and are pursuing regular courses can

open these accounts. Existing regular SB accounts of students already opened with the

Bank can also be converted to this new account. At the time of opening the account, the

student has to furnish a copy of student ID card issued by the school/college.

Initial Deposit & Quarterly Average Balance (QAB)

These accounts can be opened without any initial deposit. However, the a/c holder should

maintain a quarterly average balance of Rs 100/- thereafter.

Special facilities

In order to encourage students to open Savings Bank accounts with the Bank, it has been

decided to offer the following facilities / services: -

v No annual maintenance charges for Debit Cards

v No service charges for purchase of DDs / POs through the account upto a maximum of 5

instruments per month

v No service charges for collection of cheques upto a maximum of 2 instruments per

month

v No service charges for Any Branch Banking transactions

Other facilities available

v SMS Banking

v Internet Banking

v Personalised Cheque Book facility (For students above 18 years of age)

v Railway ticket booking / Mobile Recharge

All other facilities available to normal Savings Bank account shall also be available to this

account as per the same terms & conditions.

Account shall be converted to regular Savings Bank account on end date of course (as per

ID card).

Corp Pragathi Account

Corporation Bank has introduced a ‘No Frills’ SB a/c with zero balance facility. The account,

‘Corp Pragathi SB a/c’ can be opened with an initial deposit of Rs 10/- and will provide the

account holder the basic banking facilities. No penalty will be levied even if the balance in

the account drops below Rs. 10/-.

Any individual, including minors above the age of 10 years, who are eligible to open a

normal Savings Bank account, can open the account. The account will be available in all

branches of the Bank. Account holders will be provided chequebook facility, collection,

remittance facilities etc.

Sl

No

Features NO FRILL Account

1 Minimum

Balance

There is no minimum balance prescribed for the account. Accounts

have to be opened with an initial deposit of Rs 10/-

2 Who can

open the

account

Accounts can be opened by all those who can open regular savings

bank accounts. The eligible type of customers include Pensioners,

Agricultural & Plantation laborers, Casual laborers, Employees in the

unorganized sector, members of Self Help Groups, Self employed

persons running small business like petty shops etc, students etc.

3 Branches All Branches

covered

4 Rate of

interest

As applicable to Normal SB a/c

5 Facilities

provided

a) Withdrawals can be effected at base branches only through loose

cheque leaves or chequebook issued. (The account holder can be issued

one normal cheque book of 10 leaves in a quarter)

b) Withdrawals not to exceed 10 per quarter

c) Collection of outstation cheques

d) Remittance facilities

e) Passbook

f) Nomination facility

6 Service

Charges

All service charges at existing rates

7 Facilities not

provided

ATM / Debit Card Internet Banking facilityAny Branch Banking facility

Personalized Cheque Book facility

Immediate credit of outstation cheques

8 Other terms

& conditions

1. Self-Declaration from the customer to the effect that balance in the

account will not exceed Rs.50,000/- and the total credit in all the

accounts will not exceed Rs.1.00 lakh in a year.

2. Introduction should be obtained from any of the account holder who

has been subjected to full ‘Know Your Customer’ procedure.

Introducer’s account with the bank should be at least 6 months old and

should show satisfactory transactions. The photograph of the customer

who proposes to open the account and also his address needs to be

certified by the introducer.

3. In the absence of an introducer as mentioned above, any other

evidence as to the identity and address of the customer to the

satisfaction of the bank.

Corp 4 - in - 1 a/c (Current a/c)

Corporation Bank offers an assortment of current account products that is tailor made to suit all

financial requirements of all our customers be it individuals or corporates.

Account Quarterly Average Balance

Corp Business Account Rs 10,000 (Metros)

Rs 5,000 (Urban & Port Town)

Rs 2,500 (Semi Urban & Rural)

Corp Business Premium Account Rs 50,000 (all locations)

Corp Business Club Account Rs 100,000 (all locations)

Corp Business Privilege Account Rs 500,000 (all locations)

Open the account suited for you to enjoy a host of facilities that will take care of your entire

banking requirements.

Corp Companion - Any Branch Banking Facility : With all our branches of the Bank networked

across India, you can now bank with the Bank and not just a Branch. Access and transact in your

account from any of the networked branches. Deposit / Withdraw Cash to / from your account,

Instant Fund Transfers to any account at these branches, Deposit local cheques at remote

centres for credit of your account elsewhere.

Corp Power Cheq - Multi City Cheque Facility : A powerful facility wherein your cheques are

now payable at par at any CorpBank branch in India. Adding more power to your Current

Account.

Funds Transfer: Instantly transfer funds to any account maintained at any of our networked

branches across India from your account.

Demand Drafts With our national presence, you can draw Demand Drafts in over 450 centres

across the country from Jammu to Nagercoil and from Bhuj to Gangtok.

Corp Net - Internet Banking: Corp Net, our Internet Banking service allows you to access your

account any part of the world anytime.

v Verify your account balances

v View and download your statement of accounts

v Make payments to third parties & transfer funds using Corp E-cheque

v Request for cheque books, demand drafts, Stop Payments

v Pay Utility Bill Payments online

v And many more services

Corp Convenience - International Debit cum ATM Card : Corp Convenience, our International

Debit Card assists you in accessing your account at over 1060+ Corp Bank ATMs in addition to

more than 10 lakh VISA ATMs worldwide. Moreover you can use the Card at more than 10

million shopping outlets worldwide displaying the VISA logo.

Other facilities: Account statements, Standing Instructions and all other facilities that you have

been enjoying with us for over 103 years. We also have a unique product, Corp Payroll to make

your salary payments to your employees without any bother.

Who can open:

a. Individuals of sound mind and who have attained majority.

b. Two or more individuals in their joint names.

c. Proprietary Concerns (Sole Proprietorships)

d. Partnerships Firms

e. Hindu Undivided Families

f. Companies

g. Clubs, Societies, Associations, Committees, Schools etc.

h. Trusts

i. Executors

j. Administrators

k. Government and Semi-Government Bodies, Local Authorities etc.

Based on the current account variant you choose, you will be eligible for a host of services at

free/concessional rates.

Millionaire RD Account

Millionaire RD Account

Recurring Deposit is a term deposit wherein a fixed monthly installment is deposited by

the customer for a predetermined period. At the end of the period, the customer will get

back the amount deposited along with applicable interest.

Millionaire RD is a variant of the above scheme wherein the customer on depositing a

specified amount of money for the corresponding period is assured to get a maturity value

of more than Rs One Million at the end of the tenure.

For e.g., at the prevailing interest rates, a customer on depositing Rs 5600 for 120 months

will get back Rs 1,000,027 at the end of the period.

In case of premature withdrawal, there shall be penalty of 1% on the contracted interest

rate or on the interest rate for period run, whichever is lower. Loan facility is provided

upto 90% of the deposit. NO TDS will be deducted on any kind of Recurring Deposit

To open a Millionaire RD, please contact our nearest Branch. In case you are not having an

existing relationship with the Bank, you would need to provide documents establishing

Proof of Identity and Proof of Address.

The full Millionaire table is furnished below.

Period GENERAL SENIOR

CITIZENS

Deposit Period Monthly

Instalment

Maturity

Value

Monthly

Instalment

Maturity

Value

1 Year 80250 1,000,087 80050 1,000,282

2 Year 38650 1,000,550 38450 1,000,596

3 Year 24825 1,000,320 24625 1,000,070

4 Year 17950 1,001,171 17750 1,000,471

5 Year 13725 1,001,413 13550 1,000,830

6 Year 11000 1,001,088 10825 1,001,095

7 Year 9050 1,000,239 8900 1,002,430

8 Year 7625 1,003,028 7450 1,001,626

9 Year 6500 1,002,217 6350 1,003,672

10 Year 5600 1,000,027 5450 1,000,713

Who can Open:

Account can be opened by An individual in his/her own name, Individuals in their joint

names with suitable repayment instructions, Minor represented by parent/guardian,

Clubs, Societies, Associations, Trusts, Executors, Educational Institutions, Administrators,

HUF, Govt. Departments, etc.

To open a Millionaire RD, you may contact our nearest Branch. In case you are not having

an existing relationship with the Bank, you would need to provide documents establishing

Proof of Identity and Proof of Address. If you are not maintaining SB account with the

Bank, you would need to ensure that monthly installments are paid by means of cheque /

cash at the branch where account is opened.

Term Deposit

Kshemanidhi Cash Certificates - KCC

KCC is a money multiplier deposit - it is a reinvestment Term Deposit scheme that can be

opened for a period ranging from 6 months to 10 years. It is a money multiplier deposit

where the deposit amount grows rapidly as interest is compounded quarterly. The rate of

interest depends on the period of deposit.

Money Flex

The flexible Term Deposit - it is a friendly, flexible fixed deposit

scheme that won't block your money for the full term of the deposit.

The scheme allows you to withdraw your money whenever you please. The deposit can be

made for a period ranging from 6 to 120 months. The minimum deposit is Rs. 5,000.

Additional deposits can be made in multiples of Rs.1,000. The rate of interest depends on

the period of deposit.

You can earn interest on your fixed deposit as per applicable rates. You can withdraw a

part of the deposit without having to permanently close the entire deposit. The amount

deposited is held in units of Rs. 1000 each to facilitate part withdrawal. In sum, it is an

ideal scheme for people who would like to have easy access to their fixed deposits without

any hassles.

Fixed Deposit

The high returns deposit - it is the high return term deposit scheme and interest can be

paid at regular intervals viz. monthly, quarterly, half yearly or yearly. The deposit can be

made for periods ranging from 15 days to 10 years. The rate of interest depends on the

period of deposit. It is an ideal deposit scheme for those who can plan for regular income.

CorpTax Saver - Tax Saving Term Deposit

Corporation Bank introduces CorpTax Saver, a new tax saving term deposit scheme.

Amount invested up to Rs. 1 lakh for a fixed period of 5 years is eligible for deduction from

income under Section 80 (C) of Income Tax Act.

Tax Saver Fixed Deposit (TSFD) - The depositors can opt for monthly, quarterly, half yearly

or yearly interest in case of TSFD.

Tax Saver Kshemanidhi Cash Certificate (TSKCC) - In case of TSKCC, the interest will be

quarterly compounded and the receipt shall bear the yearly rate of interest.

Eligibility: Individuals, either singly or jointly with other individuals including minors

represented by guardians & HUF assessee are eligible to open Tax Savings Term Deposit

account. [Quoting of PAN is mandatory]

Joint holder type of deposits may be issued jointly to two adults or jointly to an adult and a

minor, and payable to either of the holders or to the survivor.

In the case of joint deposits, the deduction from income under section 80C shall be

available only to the first holder of the deposit.

Period of the deposit: Fixed at 5 years.

Amount: The minimum amount is Rs. 100 and the maximum amount is Rs.1 lakh in a

financial year. The deposit is accepted in multiples of Rs.100 only.

Rate of interest: As applicable to five year term deposit from time to time. Additional

interest is payable to senior citizens.

Nomination: Nomination facility is available to the depositor under the scheme as per the

rules applicable from time to time. No nomination shall be made in respect of a term

deposit applied for and held by or on behalf of a minor.

Mode of interest payment: Compound interest will be paid in TSKCC and simple interest

will be paid in case of TSFD. The depositors can opt for monthly or quarterly or half yearly

or yearly interest in case of TSFD. In case of TSKCC, the receipt shall bear the yearly rate of

interest on the term deposit receipt.

Premature Closure: No premature closure is permitted before the expiry of five years from

the date of its receipt.

Loans against deposits: No loans shall be granted against the deposits and deposit shall

not be accepted as collateral security for any other facilities also.

Tax deduction at source: Tax shall be deducted at source on the amount of interest

paid/credited in the account as per the guidelines issued under the Income Tax Act from

time to time.

Continuous Deposit

The cluster deposit - Here you choose between simple interest and compound interest

while keeping your deposits in a cluster form. Continue to deposit, any amount, any

number of times. All deposits will be recorded in one account in a pass book making it easy

for you to keep track of your deposits. No hassles of having numerous deposit receipts.

Ready Cash Deposit

The high returns, high liquidity deposit - It is a fixed deposit scheme with a cheque facility

to withdraw whenever you want. Under the scheme, you can deposit a minimum of Rs.

5,000 for a period ranging from 12 months to 36 months. The rate of interest depends on

the period of deposit. While your deposit earns at the agreed rate of interest, you can

withdraw your money through cheques. You need to pay interest in the amount

withdrawn as per the rates fixed by the Bank.

Reccuring Deposit

Every drop counts - An ideal way to plan for future needs. Best suited to the salaried class,

you can save a fixed sum every month for a period ranging from 12 months to 120 months.

You get a lumpsum amount on maturity. Minimum amount of deposit is Rs 50/- p.m. in

Rural and Semi - Urban places and Rs 100/- p.m. in all other places and thereafter in

mulltiples of Rs 25/-. There is no maximum limit.

The rate of interest depends on the period of deposit and it is compounded quarterly.

Interest is paid annually and is ploughed back into principal every year.

The account can be opened by an individual in his / her own name, individuals in their joint

names with suitable repayment instructions,minors represented by guardian and by

clubs,societies, associations etc.

TDS is not applicable to this deposit scheme .

Corp Recur

The depositor pays the Bank a minimum stipulated amount of money every month for 3

years, at the end of which the accumulated deposit together with interest is repaid to

him/her. The Depositor has the option to remit 10 times of stipulated monthly instalment

in a month and withdraw part of the Deposit at the end of 1st and 2nd year of deposit.

Minimum amount of deposit is Rs 500/- p.m. and thereafter in mulltiples of Rs 100/-. There

is no maximum limit.

The rate of interest will be payable at the rate decided by the Bank from time to time.

Interest is paid annually and is ploughed back into principal every year. However the

interest will be compounded on quarterly basis so as to fetch higher yield on the

investment.

The account can be opened by an individual in his / her own name, individuals in their joint

names with suitable repayment instructions,minors represented by guardian and by

clubs,societies, associations etc.

TDS is not applicable to this deposit scheme .

Premium Deposit

The deposit for a secure tomorrow - Start saving a minimum of Rs.100 per month for a

period from 1 year to 10 years. On completion of that period, the deposit with interest is

reinvested in minimum blocks to give maximum interest, at the rate prevailing then, and

converted into a corpus of your choice.

Janatha Deposit

The bank at your door step. This deposit is for a period from 1 to 5 years. Our collection

agent will call at your place to collect your savings at regular intervals even daily. Your

small saving thus accumulate into a substantial amount over the deposit period.

Corp Gold

Corp Bank, with strong fundamentals and experience/expertise in handling bullion

business, is one of the few Banks that have been permitted to launch the scheme. The key

features of the Corp Gold Deposit Scheme are

v Resident Indians can invest under the

scheme

v Gold (bars, coins, jewellery, etc.) is accepted in scrap form

v Maturity period 3 to 7 years

v Rate if interest – depends on the maturity pattern

v Facility of Nomination is available

v Multiple Certificates for different denominations available

v Redemption in standard 995 fineness gold or in rupees permissible

v Premature withdrawal after the lock-in-period is permitted

v Rupee loans permitted against the collateral of Deposit Certificate

v Deposit is transferable by endorsement and delivery

v No Income Tax on interest income

v No Wealth Tax on gold deposited

v No Capital Gains Tax either on transfer or maturity

v The Scheme at present is available at select branches only and other terms and conditions

apply.

GENERAL GUIDELINES ON DEPOSIT ACCOUNTS

v Nomination facility is available to all deposit accounts.

v Applicant(s) desiring to open an account with the Bank needs to sign an account opening form

before an official of the Bank.

v Introduction is a pre-requisite for opening any deposit account.

v As per RBI guidelines, photographs of all account holders should be furnished to the Bank.

v The rules governing the deposit accounts are subject to change from time to time.

v Tax as per extant guidelines in force will be deducted at source in respect of all deposit

accounts except Recurring Deposit.

Conclusion

The training that I undertook in THE CORPORATION BANK is very useful. I was given an

opportunity to indentify various components in banking especially in marketing department

where I trained . Apart from the theoretical knowledge that I gain from my studies, I have

gained a sound practical knowledge. This training has helped me a lot.