Current Affairs PDF

3 NPCI Awards conferred upon Corporation Bank

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

Corporation Bank has bagged three awards at the โ€œNational Payments Excellence Awards 2015โ€ 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 โ€œCheque Truncation Systemโ€ 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).

3 NPCI Awards conferred upon Corporation BankAbout NPCI
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 Banksโ€™ 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