CORPORATION BANK BAGS THREE RUNNER UP AWARDS UNDER ''SOCIAL BANKING EXCELLENCE AWARDS-2016"

Mangalore, March.3: Corporation Bank bagged three Runner up awards under Social Banking Excellence Awards instituted by The Associated Chambers of Commerce & Industry of India (ASSOCHAM). The bank bagged the awards for Agriculture Banking, Priority Sector Lending and Best Social Bank under Large Bank category for 2016.  

Shri Jai Kumar Garg, Managing Director and CEO, Corporation Bank received the award from the benign hands of Shri Arjun Ram Meghwal, Hon’ble Minister of State for Finance, Government of India at the 12th Annual Banking summit held at Mumbai on 3rd March, 2017.  

ASSOCHAM Social Banking Excellence Awards, 2016 is a way to recognize, reward and celebrate models of inclusive growth and sustainable development as well as innovative approaches to creating values for society and Business together.

The evaluation has been based on the Banks performance in Agriculture Banking, in improving banking access to farmers; especially to small and marginal farmers and agricultural labourers. Creating new opportunities in MSME lending, housing finance to poor, education loans to students and loans extended to low income groups and weaker sections of the society, CSR Activity for Social upliftment, and financial inclusion initiatives.

 Realizing the importance of inclusive growth in the nation development, Corporation Bank has taken several initiatives like extending a wide range of loan products to rural mass which includes short term crop loans (Kisan Credit Card), investment loans to agriculture and allied activity, construction of rural godowns, cold storage units, loan against warehouse receipts, loans to SHGs and JLGs. Bank is conducting Krishi Utsav Camps, Krishi Melas to educate the farmers regarding  improved package of practices.

Under Social Banking, Bank has established Self-employment training institutes named COBSETIs to conduct training programmes to rural un-employed youth in skill and entrepreneurship development to ensure their self-employment after training and motivate the Trainees to take up income generating economic activities.

Bank has established Corporation Bank Economic Development Foundation [CBEDF] a non-profit economic outfit Trust, aimed at providing or assist in carrying out economic development activities to help people to realize their full potential for economic advancement, social development and to raise quality of life.