The Hindu Business Line : Corporation Bank's gesture to underprivileged children

MR H.N. SINOR (left), Chief Executive of Indian Banks' Association, and Mr B. Sambamurthy, CMD of Corporation Bank, at the launch of Corp Compassion Scheme in Mangalore on Friday. — R. Eswarraj

Mangalore May 18 Corporation Bank has launched `Corp Compassion' scheme to help underprivileged children.

The bank will donate Rs 10 to the underprivileged children for every account opened under the `Corp Compassion' scheme.

The campaign to open savings bank accounts under `Corp Compassion' will run from June 1 to July 31.

Mr H.N. Sinor, Chief Executive of Indian Banks' Association (IBA), launched the product in Mangalore on Friday.

Social service

Addressing presspersons on the occasion, Mr B. Sambamurthy, Chairman and Managing Director of the bank, said this product, apart from meeting the social service objective, will have all the hi-tech features such as `any branch banking'; multi-city cheque facility; personalised cheque facility; Internet, SMS and tele-banking facilities; and term insurance at low premium.

"We want to open as much as possible accounts under the campaign," he said.

In this campaign, the bank and the customers are joining together for a social cause. The amount collected will be donated to the charitable institutions working for the welfare of underprivileged children. The general managers have been asked to identify the charitable institutions working in this matter, he said.

During the last fiscal, the total share of the current account savings account stood at 34 per cent.

Mr K.L. Gopalakrishna, Executive Director of the bank, said the bank is in the forefront of meeting the corporate social responsibilities.

Mr Mohan Rao, General Manager, explained the salient features of the scheme.