Corp bank launches 3 loans

Mangalore, Oct 27, DHNS,

Oct 27 2010, 20:44 ist
updated: Oct 27 2010, 20:44 ist

DK ZP CEO P Shivashankar (centre) inaugurating three new products of Corporation Bank in the presence of (from right) Corp Bank Executive Directors Narendra Singh, Asit Pal, SDM College of Business Management Director Dr Devaraj K and Bank General Manager S M Swathi in Mangalore on Wednesday.

Corporation bank has kept people’s need in mind and has launched loans benefiting common man, said Zilla Panchayat Chief Executive Officer P Shivshankar at the launch ceremony of ‘Corp Shubha Vivah,’ ‘Corp Ghar Shobha’ and ‘Corp SB Smile’ on Wednesday.

Banks should be friendlier to common man. Because of complicated procedures, people prefer to take loans from money lenders at a higher interest rate, he added.

“Corp Ghar Shobha is designed as a complete housing solution and a maximum loan amount of Rs 10 lakh at a rate of interest of 10 per cent could be granted. Corp Shubha Vivah is launched to take care of expenses related to marriage and the loan could be repaid in 5 to 7 years at a rate of interest of 12 per cent. Corp SB Smile is an avenue for savings for the hawkers and street vendors. The account could be started with an initial deposit of Rs 200,” informed Corporation Bank Executive Director Asit Pal presiding over the function.

“Creating and delivering standard of living to people is an important tool in marketing and Corporation bank is doing it with its schemes,” opined SDM Business Management Principal Dr Devraj.

Corporation Bank Executive Director Narendra Singh, General Manger S M Swathi, Deputy General Manager Prabhakar Shenoy were the other dignitaries present.