|
 Kochi:
“India’s credit off-take is slowly picking up.
Though currently it is piggybacking on a retail boom,
there are indications of a revival in the industrial sector,”
says Corporation Bank chairman and managing director K
Cherian Varghese.
“I
am now getting proposals for capacity expansion from companies,
which goes to show that there is some revival in the industrial
sector,” he adds, cautioning that a clear trend is
yet to emerge.
“At
present industrial rejuvenation is being fuelled by retail
loans products, particularly in housing, automobiles and
consumer goods. This together with increased government
investment in infrastructure could trigger an upturn in
the credit off-take,” he says.
In
the housing loan segment, Corporation Bank has nearly
doubled the disbursal of Rs 631 crore achieved last year.
Already, it has crossed Rs 1,100 crore. With a shortfall
of 1.9 crore housing units, Varghese expects more demand
for housing loans.
As
part of its campaign for home loans, it is organising
an Ernakulam home loan fair at TDM Hall for two days from
20 December 2002, which will bring together traders, manufacturers
and insurance companies under a single roof for the benefit
of customers.
The
bank has received the sanction from the Insurance Regulatory
Development Authority (IRDA) for selling insurance products.
It has trained 63 officers for marketing these products.
Corporation Bank has also tied up with Life Insurance
Corporation and New India Assurance for distributing their
products.
With
its accent on technology, the bank is planning to increase
its ATM network in India to 500 in the current fiscal.
At present, with 263 ATMs, it has the second largest ATM
network in the country. The number of ATMs in Kerala will
see a rise from the present 17 to 25 in the same period.
 The
bank has signed an agreement with Oriental Bank of Commerce
for sharing its ATM network. It has decided to offer the
voluntary retirement scheme to 163 officers after making
a detailed assessment of its needs up to 2006.
List
of reports on Corporation Bank
List
of general reports on Industries
List
of reports on People in News
|
