Corporation Bank stands out among the public sector banks mainly because of the stringent and consistent provisioning policy and adoption of best practices in people engagement, said Shyamala Gopinath, Deputy Governor of Reserve Bank of India, while speaking at the 'Corporation Bank Celebrates Silver Jubilee of Excellence Through Employee Recognition Scheme'. | |
| Gopinath said when financial sector reforms were introduced in 1992, although all public sector banks were exposed to same environment, a few banks like Corporation Bank survived due to people engagement and the bank is known for its sound financials and has been successfully keeping pace with the competition of liberalised economy. |
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| She also complimented the bank for staying in forefront in implementing the initiative of RBI in Payment System by extending RTGS and NEFT facilities to all its branches across the country. |
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| B Sambamurthy, CMD of the bank said that the Corporation Bank has been going beyond the concept of mere earning profit, but earning profit with purpose. |
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| In its 102 years of existence, bank, he said, has consistently evolved new business models, strategies and practices, but its core values towards commitment to customer needs and customer-centric orientation have remained the same. |
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| The quality of assets of the bank is the reflection of the quality of its customers and the bank has earned a pivotal position amongst public sectors banks with its low NPA, he said. |
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| K L Gopalakrishna, Executive Director of the bank in his address said that the bank has a unique scheme of rewarding outstanding performance of Branch Managers who excel in various areas of operation. |
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| A striking feature of scheme, he said, is that the scheme empowers branch managers to perform and self-evaluate the performance at the end of the year. The scheme is time tested and is in vogue for the last 25 years. |
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