Corporation Bank to launch 4 new products

Corporation Bank is planning to launch four new current account products "� Corp Business Account, Corp Business Privilege Account, Corp Business Plus Account and Corp Business Club Account.

The bank, which has paid a 60 per cent dividend to its shareholders including the 30 per cent interim dividend that was paid earlier, has approached the Boston Consultin Group for consultations for business and transaction process change.

Business process re-engineering, possible overseas presence and revamping the training system are some of the other areas of consultation, K Cherian Varghese, chairman and managing director of the bank, told mediapersons on Friday.

"The bank has given 10 per cent as advances to the agriculture sector (Rs 1,115 crore) as agriculture today is a good business and the Indian farmer is a good creditor whose repayment ethos is much higher. We are shifting to better yeilding assets and reduce cost of liabilities," he said.

On the possible rise in the interest rates, Cherian said,"We don't forsee any rise in the interest rates immediately."

But in the medium and long-term interest rates, it depends on whether the credit will pick up internally and if there will be an upward movement of interest globally."