Money & Banking

Corp Bank's heritage museum, a treasure of financial knowledge

Our Bureau Mangalore | Updated on September 08, 2011 Published on September 08, 2011

An inside view of the house of the founder president of Corporation Bank in Udupi.

Showcasing old coins to the present day financial inclusion initiatives of the Government will be the focus area for improving the founder's house of Corporation Bank in Udupi, according to Mr Ramnath Pradeep, Chairman and Managing Director of the bank.

The bank has converted the house of the founder president of the bank, Mr Haji Abdullah Saheb, into a heritage museum.

Financial temple

Showcasing the heritage museum to a group of journalists from Mangalore at Udupi on Thursday, Mr Pradeep said aim of the bank is to make the heritage museum the ‘financial temple' for the people visiting the temple town of Udupi. The heritage museum will be developed as a tourist spot for the pilgrims visiting the town, he said.

The heritage museum provides information about banking history since its inception in 1906. The bank was started in the house of Haji Abdullah Saheb with a capital of Rs 5,000 in the form of a ‘nidhi' on March 12, 1906, in the name of Canara Banking Corporation Udipi Ltd. Stating that the museum has a good collection of coins from across the world, Mr Pradeep said the bank wants to improve the coin collection in the museum. It will approach coin collectors in this regard, he said.

Coin collection

The employee of the bank, Mr Radhakrishna Kumble, who has put 25 years of his coin collection on display at the museum, said around 1,360 coins of different periods and different countries are on display at the museum. The current market value of these coins will be around Rs 42 lakh, he said. Mr Pradeep said the museum showcases the evolution of banking, banking instruments, records, bank notes and currency.

Solar lighting system has been used for the electrification of the entire building, he said.

Apart from the heritage museum, the building also has a financial research centre, financial inclusion resource centre, and financial literacy and credit counselling centre.

The financial inclusion resource centre showcases the initiatives taken by Union Government and RBI on allied products and services, he added.

Published on September 08, 2011
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