With a view to provide comprehensive, multifaceted and quality service to the customers, Corporation Bank launched two unique services i.e., Financial health check-up and ‘invest shoppe’ at Ram Bhavan Complex in Kodialbail in the City on Friday.
Director of the Bank Dr C R Kamath launched the Financial health check-up, while Lamina Group of Companies Managing Director N Vinay Hegde inaugurated the Invest Shoppe.
The idea behind launching Invest Shoppe is nothing but providing an umbrella of financial services to the retail investors, by entering into alliances in adjacent markets such as life, non-life & health insurance, sale of mutual finds, gold banking, tax collection and demat services, said the Bank Chairman and Managing Director B Sambamurthy.
Speaking to reporters, he said the Bank has partnership with AMCs of all major Mutual funds in the country numbering as many as 13. To enable customers to invest in equity markets, the Bank provides demat services, offline and online trading through broking arrangements with IL & FS, UTI Securities and Reliance Money.
The Bank is also the corporate agent for selling insurance products of LIC and New India Assurance Company. It is authorised to collect Direct Tax, Excise Duty & Custom Duty with online remittance facility, he informed.
On the other hand, the Financial Health Check-up is a unique and pioneering concept of the Corporation Bank and this value-added service facilitates the customer to get his finance portfolio examined from the point of healthy mix and get advise on risk-reward portfolio sharing. With the growing income levels, there is a paradigm shift in the investment patterns of household savings. The market offers new avenues for investments depending upon risk-return appetite of investors, Mr Sambamurthy observed.
Bank Executive Director K L Gopalakrishna, General Manager B R Bhat, General Manager A Mohan Rao, senior officials and staff were present on the occasion.