Corporation Bank has bagged three awards at the “National Payments Excellence Awards 2015” event recently. The function was organised by National Payments Corporation of India (NPCI).
- The award was presented by R Gandhi, Deputy Governor of Reserve Bank of India.
- Corporation Bank received the winner award jointly with Indian Bank for “Cheque Truncation System” under the mid-sized category. The bank also received two runner-up awards for National Financial Switch for its performance in acquirer transactions and Immediate Payment Service (IMPS).
National Payments Corporation of India (NPCI) is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA).
- NPCI was incorporated in December 2008 and the Certificate of Commencement of Business was issued in April 2009.
- It was incorporated as a Section 25 company under Companies Act 1956 (now Section 8 of Companies Act 2013)
- The authorized capital was pegged at Rs 300 crore and paid up capital was Rs 100 crore.
About Corporation Bank
Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906. Government of India is the majority shareholder holding 59.82% stake in the bank. Overall, the Bank has a wide network of over 9,000 centres across India, including 2,061 branches, 2,599 ATMs and 4,349 branchless banking units.
- CEO – Shri Sadhu Ram Bansal
- Tagline – A Premier Public Sector Bank