Money & Banking

Corporation Bank keen to ramp up CASA deposits

K R Srivats New Delhi | Updated on March 12, 2018 Published on August 30, 2014

corporation

Corporation Bank is keen to ramp up the share of current and savings account deposits in its overall deposit base, its Chairman and Managing Director S R Bansal said.

"Our CASA deposits level is very low. From the current level of 17 per cent, we want to take it to 22 per cent,'' Bansal told Business Line here.

Towards this end, Corporation Bank plans to open 500 new branches this year. At least 30 per cent of the new branches will come in unbanked semi-urban and rural areas, he said.

The bank is targeting a 15-17 per cent growth in deposits and advances this fiscal, he added.

Jan Dhan accounts

On the comprehensive financial inclusion plan of the new Modi-led Government, Bansal said the bank has opened nearly five lakh accounts on the launch date of August 28. This is against the target of 3.5 lakh for that date.

In all, the bank had set up 7,850 camps across the country for this purpose on the launch date.

Bansal expressed confidence that the bank would be able to open 6.1 lakh Jan Dhan accounts by January 26 next year.

>srivats.kr@thehindu.co.in

Published on August 30, 2014
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