Corporation Bank
Encyclopedia
Corporation Bank is an India-based banking company based in Mangalore
, India. The bank was founded with an initial capital of Rs. 5000 (USD 100), and first day’s canvassed resources of less than one USD 1, has currently (31 March 2004) 12,724 full time employees, and operates from several branches in India.
The Bank is a Public Sector Unit with 57.17% of Share Capital held by the Government of India. The Bank came out with its Initial Public Offer (IPO) in October 1997 and 37.87% of Share Capital is presently held by the Public and Financial Institutions. The Bank’s Net Worth stood at Rs.3,054.92 crores as on 31 March 2005.
The bank has the distinction of the first Indian bank to publish its financial results (1998-99) conforming to US GAAP.
in the erstwhile undivided Dakshina Kannada(Mangalore) District of Karnataka
and one of the oldest banks in India, was founded in 12th March 1906 in the Temple Town of Udupi, by a small group of philanthropists led by Khan Bahadur Haji Abdulla Haji Kasim Saheb Bahadur. The need to start this bank was felt because there was no such facility at Udupi, an important trading centre next to Mangalore
in D.K. District. The indigenous banking was largely in the hands of a few rich private individuals and something had to be done to provide relief to the common man from the clutches of the money lenders who held full sway. The first branch of a modern bank established in the district was the Bank of Madras
, one of the three Presidency
Banks, which set up its office in Mangalore in 1868 largely to cater to the business needs of a few British
firms dealing in export of plantation
products. Its agent used to visit Udupi once a fortnight or so, to do banking. Money remittances had to be made only through postal
medium.
To overcome these drawbacks and also to provide banking facilities for Udupi in particular and the district in general, a cosmopolitan group of philanthropists led by Haji Abdulla Saheb made a bold venture to start this institution. What inspired the founding fathers was the fervour of Swadesh
ism. For promoting the Bank , the Founder
President
made an appeal saying , " The primary object in forming the ‘Corporation' is not only to cultivate habits of thrift amongst all classes of people , without distinction of caste or creed, but also habits of co-operation amongst all classes. This is ‘swadeshism', pure and simple and every lover of the country is expected to come forward and co-operate in achieving the end in view." They rightly defined Swadeshism as institution-building to aid economic activity through co-operation of all, shorn of distinction of caste and creed
"The Canara
Banking Corporation (Udupi) Ltd.", as the institution was called then, started functioning as a ‘Nidhi' with a humble beginning. The initial capital was Rs.5000/- and at the end of the first day, its resources stood at 38 Rupee
s - 13 Annas
and 2 Pies
.
The setting up of the Canara Banking Corporation Ltd. seems to have given a fillip to co-operative Banking and also to regular banking elsewhere in the district. Between 1909 and 1917, six co-operative banks came into being and during the decade immediately after the First World War (1914-18) South Kanara gave birth to as many as eight banks. It is to the credit of this Bank that despite two world wars, economic depression and stiff competition, the Bank not only quite survived, but also made satisfactory progress.
Having been started at Udupi, the Bank first branched out by opening a branch at Kundapur in 1923. The second branch of the Bank was opened in Mangalore at Car Street in 1926. The Bank stepped into Kodagu
District in 1934 by opening its seventh branch in Madikeri. In 1937, the Bank was included in the second schedule of Reserve Bank of India
Act, 1934. In 1939, the Bank's name changed from "Canara Banking Corporation (Udupi) Ltd." to "Canara Banking Corporation Ltd." The Bank graduated into a Regional Bank in 1945 when the total number of its branches stood at 28. In the year 1961, it took over ‘Bank of Citizens, Belgaum
.' In the same year, the Bank's Administration Office shifted from Udupi to Mangalore.
The second change in the name of the Bank occurred in 1972, from ‘Canara Banking Corporation Ltd'. to ‘Corporation Bank Limited.' The Bank was nationalised in 1980 along with 5 other private sector banks. After nationalisation, the pace of growth of the Bank accelerated and it made all-round progress. Started as a common man's bank, it changed with the times to meet the aspirations of the people but never swerved from its motto- "Sarve Janah Sukhino Bhavantu" meaning Prosperity for All . It endeavoured and succeeded in striking a right balance between traditional values and innovative approach, personalised service and professional outlook and commercial considerations and public concern. One of the unique achievements of the Bank is that it has been paying dividend continuously for the last 98 years since its inception. Today, with the most modern technology-driven products and services and nationwide branches & ATMs
, Corporation Bank stands tall among the Public Sector
Banks in the country and is hailed as one among the well-managed Public Sector Banks with excellent track record in all the key parameters of banking. The Bank has the second largest ATM network in the public sector.
Corporation Bank had the honour of playing host to many a distinguished personality. During the Bank's Platinum Jubilee
Celebrations in 1976, the new Administrative Office Building at Pandeshwar Mangalore was opened by Shri B.D.Jatti, the then Vice-President of India
. The bronze statue of Pt. Jawaharlal Nehru
installed by the Bank at the Traffic Island in front of its Corporate Office at Pandeshwar Mangalore, was unveiled by Mr. Justice
E.S. Venkataramaiah, the then Chief Justice of India
. In 1992, His Excellency
Shri R. Venkataraman
, the then President of India
, visited the Bank to inaugurate its 85th anniversary
celebrations and 60th anniversary of the Bank's commencement of operation in Tamil Nadu
state. In the year 1996, Mr. Justice
A.M.Ahmadi, the then Chief Justice of India
, visited the Bank to deliver the 90th year commemorative lecture. ‘Corporation Bank House', the new premises of the Bank's Car Street Mangalore branch, was inaugurated by Dr. Manmohan Singh, who was then the Union Finance Minister
. Dr. C. Rangarajan
, the then Governor
of Reserve Bank of India
, launched the prestigious deposit product Corp Classic during his visit to the Bank's Corporate Office in 1997. The Bank's new Millennium Building was inaugurated by the then Union Minister of State for Finance Shri Vikhe Patil in the year 2000. In the same year, Shri Yashwant Sinha
, who was the Hon'ble Union Finance Minister
at that time, launched the Bank's CorpFast product at the Corporate Office.
First Public Sector Bank(other than SBI Ascociates) to achieve 100% CBS developed and implemented by Laser Soft Infosystems Limited,Chennai.
, Reserve Bank of India
with the Bank's Foundation Day lecture on 12 March 2005.
As a part of the Bank's centenary celebrations, a number of programmes and projects were planned and executed. As a first step, the Bank has launched the Corp Kissan Card - debit card
tied up with VISA
international,, to enable the farmers make timely purchases for agricultural operations.at Yeshwantpur-Malur in Kolar
District on 13 March 2005. A modern public library was dedicated to the citizens of Mangalore
in DK District, the birth place of the Bank by Shri P. Chidambaram
, Hon'ble Union Finance Minister
on 2 March 2006. The library building also houses a Numismatic Museum and a multi purpose hall for intellectual
activities. The Bank has also set up libraries in 25 villages and given away scholarship to 100 meritorious students of such villages for the pursuit of their higher education. Such libraries will be set up in 75 more villages in a phased manner. Corporation Bank - A Corporate Journey , the history of the Bank and Haji Abdullah Saheb a biography of the Bank's Founder
President
have been published on the occasion of the valedictory function of the Bank's Centenary Celebrations.
has re-affirmed the following programmes of Corporation Bank:
Mangalore
Mangalore is the chief port city of the Indian state of Karnataka. It is located about west of the state capital, Bangalore. Mangalore lies between the Arabian Sea and the Western Ghat mountain ranges, and is the administrative headquarters of the Dakshina Kannada district in south western...
, India. The bank was founded with an initial capital of Rs. 5000 (USD 100), and first day’s canvassed resources of less than one USD 1, has currently (31 March 2004) 12,724 full time employees, and operates from several branches in India.
The Bank is a Public Sector Unit with 57.17% of Share Capital held by the Government of India. The Bank came out with its Initial Public Offer (IPO) in October 1997 and 37.87% of Share Capital is presently held by the Public and Financial Institutions. The Bank’s Net Worth stood at Rs.3,054.92 crores as on 31 March 2005.
The bank has the distinction of the first Indian bank to publish its financial results (1998-99) conforming to US GAAP.
History
Corporation Bank, the oldest banking institutionInstitution
An institution is any structure or mechanism of social order and cooperation governing the behavior of a set of individuals within a given human community...
in the erstwhile undivided Dakshina Kannada(Mangalore) District of Karnataka
Karnataka
Karnataka , the land of the Kannadigas, is a state in South West India. It was created on 1 November 1956, with the passing of the States Reorganisation Act and this day is annually celebrated as Karnataka Rajyotsava...
and one of the oldest banks in India, was founded in 12th March 1906 in the Temple Town of Udupi, by a small group of philanthropists led by Khan Bahadur Haji Abdulla Haji Kasim Saheb Bahadur. The need to start this bank was felt because there was no such facility at Udupi, an important trading centre next to Mangalore
Mangalore
Mangalore is the chief port city of the Indian state of Karnataka. It is located about west of the state capital, Bangalore. Mangalore lies between the Arabian Sea and the Western Ghat mountain ranges, and is the administrative headquarters of the Dakshina Kannada district in south western...
in D.K. District. The indigenous banking was largely in the hands of a few rich private individuals and something had to be done to provide relief to the common man from the clutches of the money lenders who held full sway. The first branch of a modern bank established in the district was the Bank of Madras
Bank of Madras
The Bank of Madras, one of the three Presidency Banks, the other two being, the Bank of Bengal and the Bank of Bombay, was established on 1 July 1843, and was headquartered in Madras, now Chennai. It is now subsumed in the State Bank of India.-Origin:...
, one of the three Presidency
Presidency
The word presidency is often used to describe the administration or the executive, the collective administrative and governmental entity that exists around an office of president of a state or nation...
Banks, which set up its office in Mangalore in 1868 largely to cater to the business needs of a few British
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
firms dealing in export of plantation
Plantation
A plantation is a long artificially established forest, farm or estate, where crops are grown for sale, often in distant markets rather than for local on-site consumption...
products. Its agent used to visit Udupi once a fortnight or so, to do banking. Money remittances had to be made only through postal
Postal
Postal may refer to:* Mail, the postal service* The Postal Service, a band* "Going postal", the U.S. slang phrase meaning a killing spree* Going Postal, a 2004 Discworld novel by Terry Pratchett...
medium.
To overcome these drawbacks and also to provide banking facilities for Udupi in particular and the district in general, a cosmopolitan group of philanthropists led by Haji Abdulla Saheb made a bold venture to start this institution. What inspired the founding fathers was the fervour of Swadesh
Swadesh
Swadesh may refer to* A Swadesh list, named after its creator, Morris Swadesh* Swadesh in Hindi means "one's own country"* The movie Swades- People :* Swadesh Bharati , Award winning Hindi poet...
ism. For promoting the Bank , the Founder
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
President
President
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
made an appeal saying , " The primary object in forming the ‘Corporation' is not only to cultivate habits of thrift amongst all classes of people , without distinction of caste or creed, but also habits of co-operation amongst all classes. This is ‘swadeshism', pure and simple and every lover of the country is expected to come forward and co-operate in achieving the end in view." They rightly defined Swadeshism as institution-building to aid economic activity through co-operation of all, shorn of distinction of caste and creed
"The Canara
Kanara
The Kanara or Canara region comprises three coastal districts of Karnataka, namely Dakshina Kannada, Udupi and Uttara Kannada and Kasaragod district of Kerala in southwestern India. Kanara forms the southern part of the Konkan coast...
Banking Corporation (Udupi) Ltd.", as the institution was called then, started functioning as a ‘Nidhi' with a humble beginning. The initial capital was Rs.5000/- and at the end of the first day, its resources stood at 38 Rupee
Rupee
The rupee is the common name for the monetary unit of account in India, Sri Lanka, Nepal, Pakistan, Mauritius, Seychelles, Maldives, and formerly in Burma, and Afghanistan. Historically, the first currency called "rupee" was introduced in the 16th century...
s - 13 Annas
Indian anna
An Anna was a currency unit formerly used in India, equal to 1/16 rupee. It was subdivided into 4 Paise or 12 Pies . The term belonged to the Muslim monetary system...
and 2 Pies
Indian pie
A pie was a unit of currency in India that is no longer in use. It was the smallest currency unit, equal to 1/3 paisa, 1/12 anna or 1/192 rupee. It was minted in the unique toroidal form of a circle with a hole. It was abolished in the decimalisation of Indian currency and also due to practically...
.
The setting up of the Canara Banking Corporation Ltd. seems to have given a fillip to co-operative Banking and also to regular banking elsewhere in the district. Between 1909 and 1917, six co-operative banks came into being and during the decade immediately after the First World War (1914-18) South Kanara gave birth to as many as eight banks. It is to the credit of this Bank that despite two world wars, economic depression and stiff competition, the Bank not only quite survived, but also made satisfactory progress.
Having been started at Udupi, the Bank first branched out by opening a branch at Kundapur in 1923. The second branch of the Bank was opened in Mangalore at Car Street in 1926. The Bank stepped into Kodagu
Kodagu
Kodagu , also known by its anglicised former name of Coorg, is an administrative district in Karnataka, India. It occupies an area of in the Western Ghats of southwestern Karnataka. As of 2001, the population was 548,561, 13.74% of which resided in the district's urban centres, making it the least...
District in 1934 by opening its seventh branch in Madikeri. In 1937, the Bank was included in the second schedule of Reserve Bank of India
Reserve Bank of India
The Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...
Act, 1934. In 1939, the Bank's name changed from "Canara Banking Corporation (Udupi) Ltd." to "Canara Banking Corporation Ltd." The Bank graduated into a Regional Bank in 1945 when the total number of its branches stood at 28. In the year 1961, it took over ‘Bank of Citizens, Belgaum
Belgaum
Belgaum is a city and a municipal corporation in Belgaum district in the state of Karnataka, India. It is the fourth largest city of the state of Karnataka, the first three being Bangalore, Mysore, Hubli-Dharwad....
.' In the same year, the Bank's Administration Office shifted from Udupi to Mangalore.
The second change in the name of the Bank occurred in 1972, from ‘Canara Banking Corporation Ltd'. to ‘Corporation Bank Limited.' The Bank was nationalised in 1980 along with 5 other private sector banks. After nationalisation, the pace of growth of the Bank accelerated and it made all-round progress. Started as a common man's bank, it changed with the times to meet the aspirations of the people but never swerved from its motto- "Sarve Janah Sukhino Bhavantu" meaning Prosperity for All . It endeavoured and succeeded in striking a right balance between traditional values and innovative approach, personalised service and professional outlook and commercial considerations and public concern. One of the unique achievements of the Bank is that it has been paying dividend continuously for the last 98 years since its inception. Today, with the most modern technology-driven products and services and nationwide branches & ATMs
Automated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
, Corporation Bank stands tall among the Public Sector
Public sector
The public sector, sometimes referred to as the state sector, is a part of the state that deals with either the production, delivery and allocation of goods and services by and for the government or its citizens, whether national, regional or local/municipal.Examples of public sector activity range...
Banks in the country and is hailed as one among the well-managed Public Sector Banks with excellent track record in all the key parameters of banking. The Bank has the second largest ATM network in the public sector.
Corporation Bank had the honour of playing host to many a distinguished personality. During the Bank's Platinum Jubilee
Platinum Jubilee
A Platinum Jubilee is a celebration held to mark an anniversary:* 70th in Commonwealth realms usage. For example, on 6 February 2022, Queen Elizabeth II could celebrate her Platinum Jubilee in the United Kingdom, Canada, Australia, New Zealand, Jamaica and rest of the Commonwealth realms. She would...
Celebrations in 1976, the new Administrative Office Building at Pandeshwar Mangalore was opened by Shri B.D.Jatti, the then Vice-President of India
Vice-President of India
The Vice-President of India is the second-highest ranking government official in the executive branch of the Government of India, after the President...
. The bronze statue of Pt. Jawaharlal Nehru
Jawaharlal Nehru
Jawaharlal Nehru , often referred to with the epithet of Panditji, was an Indian statesman who became the first Prime Minister of independent India and became noted for his “neutralist” policies in foreign affairs. He was also one of the principal leaders of India’s independence movement in the...
installed by the Bank at the Traffic Island in front of its Corporate Office at Pandeshwar Mangalore, was unveiled by Mr. Justice
Justice
Justice is a concept of moral rightness based on ethics, rationality, law, natural law, religion, or equity, along with the punishment of the breach of said ethics; justice is the act of being just and/or fair.-Concept of justice:...
E.S. Venkataramaiah, the then Chief Justice of India
Chief Justice of India
The Chief Justice of India is the highest-ranking judge in the Supreme Court of India, and thus holds the highest judicial position in India. As well as presiding in the Supreme Court, the Chief Justice also head its administrative functions....
. In 1992, His Excellency
Excellency
Excellency is an honorific style given to certain members of an organization or state.Usually, people styled "Excellency" are heads of state, heads of government, governors, ambassadors, certain ecclesiastics, royalty, aristocracy, and military, and others holding equivalent rank .It is...
Shri R. Venkataraman
R. Venkataraman
Ramaswamy Venkataraman was an Indian lawyer, Indian independence activist and politician who served as a Union minister and as the eighth President of India....
, the then President of India
President of India
The President of India is the head of state and first citizen of India, as well as the Supreme Commander of the Indian Armed Forces. President of India is also the formal head of all the three branches of Indian Democracy - Legislature, Executive and Judiciary...
, visited the Bank to inaugurate its 85th anniversary
Anniversary
An anniversary is a day that commemorates or celebrates a past event that occurred on the same day of the year as the initial event. For example, the first event is the initial occurrence or, if planned, the inaugural of the event. One year later would be the first anniversary of that event...
celebrations and 60th anniversary of the Bank's commencement of operation in Tamil Nadu
Tamil Nadu
Tamil Nadu is one of the 28 states of India. Its capital and largest city is Chennai. Tamil Nadu lies in the southernmost part of the Indian Peninsula and is bordered by the union territory of Pondicherry, and the states of Kerala, Karnataka, and Andhra Pradesh...
state. In the year 1996, Mr. Justice
Justice
Justice is a concept of moral rightness based on ethics, rationality, law, natural law, religion, or equity, along with the punishment of the breach of said ethics; justice is the act of being just and/or fair.-Concept of justice:...
A.M.Ahmadi, the then Chief Justice of India
Chief Justice of India
The Chief Justice of India is the highest-ranking judge in the Supreme Court of India, and thus holds the highest judicial position in India. As well as presiding in the Supreme Court, the Chief Justice also head its administrative functions....
, visited the Bank to deliver the 90th year commemorative lecture. ‘Corporation Bank House', the new premises of the Bank's Car Street Mangalore branch, was inaugurated by Dr. Manmohan Singh, who was then the Union Finance Minister
Finance minister
The finance minister is a cabinet position in a government.A minister of finance has many different jobs in a government. He or she helps form the government budget, stimulate the economy, and control finances...
. Dr. C. Rangarajan
C. Rangarajan
C. Rangarajan is an Indian economist and a distinguished former Member of Parliament and Governor of the Reserve Bank of India. Currently, he is the Chairman of the Prime Minister's Economic Advisory Council...
, the then Governor
Governor
A governor is a governing official, usually the executive of a non-sovereign level of government, ranking under the head of state...
of Reserve Bank of India
Reserve Bank of India
The Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...
, launched the prestigious deposit product Corp Classic during his visit to the Bank's Corporate Office in 1997. The Bank's new Millennium Building was inaugurated by the then Union Minister of State for Finance Shri Vikhe Patil in the year 2000. In the same year, Shri Yashwant Sinha
Yashwant Sinha
Yashwant Sinha is an Indian politician and a former finance minister of India and foreign minister in Atal Bihari Vajpayee's cabinet...
, who was the Hon'ble Union Finance Minister
Finance minister
The finance minister is a cabinet position in a government.A minister of finance has many different jobs in a government. He or she helps form the government budget, stimulate the economy, and control finances...
at that time, launched the Bank's CorpFast product at the Corporate Office.
First Public Sector Bank(other than SBI Ascociates) to achieve 100% CBS developed and implemented by Laser Soft Infosystems Limited,Chennai.
100 years of banking
Corporation Bank completed 100 years of existence on 12 March 2006. The Centenary celebrations were launched by Shri V. Leeladhar, Deputy GovernorGovernor
A governor is a governing official, usually the executive of a non-sovereign level of government, ranking under the head of state...
, Reserve Bank of India
Reserve Bank of India
The Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...
with the Bank's Foundation Day lecture on 12 March 2005.
As a part of the Bank's centenary celebrations, a number of programmes and projects were planned and executed. As a first step, the Bank has launched the Corp Kissan Card - debit card
Debit card
A debit card is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution...
tied up with VISA
Visa
Visa or VISA may refer to:* Visa , a document issued by a country's government allowing the holder to enter or to leave that country...
international,, to enable the farmers make timely purchases for agricultural operations.at Yeshwantpur-Malur in Kolar
Kolar
Kolara is a city in the South Indian state of Karnataka. It is the headquarters of Kolar District. It is known for being one of the gold mining sites in India....
District on 13 March 2005. A modern public library was dedicated to the citizens of Mangalore
Mangalore
Mangalore is the chief port city of the Indian state of Karnataka. It is located about west of the state capital, Bangalore. Mangalore lies between the Arabian Sea and the Western Ghat mountain ranges, and is the administrative headquarters of the Dakshina Kannada district in south western...
in DK District, the birth place of the Bank by Shri P. Chidambaram
P. Chidambaram
P. Chidambaram or Chidambaram Palaniappan, sometimes written Palaniappan Chidambaram is an Indian politician with the Indian National Congress and present Union Minister of Home Affairs of the Republic of India. Previously he was the Finance Minister of India from May 2004 to November 2008...
, Hon'ble Union Finance Minister
Finance minister
The finance minister is a cabinet position in a government.A minister of finance has many different jobs in a government. He or she helps form the government budget, stimulate the economy, and control finances...
on 2 March 2006. The library building also houses a Numismatic Museum and a multi purpose hall for intellectual
Intellectual
An intellectual is a person who uses intelligence and critical or analytical reasoning in either a professional or a personal capacity.- Terminology and endeavours :"Intellectual" can denote four types of persons:...
activities. The Bank has also set up libraries in 25 villages and given away scholarship to 100 meritorious students of such villages for the pursuit of their higher education. Such libraries will be set up in 75 more villages in a phased manner. Corporation Bank - A Corporate Journey , the history of the Bank and Haji Abdullah Saheb a biography of the Bank's Founder
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
President
President
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
have been published on the occasion of the valedictory function of the Bank's Centenary Celebrations.
Ratings
CRISILCRISIL
Credit Rating and Information Services of India Ltd. a global analytical company providing ratings, research, and risk and policy advisory services....
has re-affirmed the following programmes of Corporation Bank:
- Rs.2 billion Bond issue AAA
- Certificate of Deposits Programme P1+
- Fixed Deposit Programme FAAA
Awards won
- National Award for Assistance to Exporters from the President of IndiaPresident of IndiaThe President of India is the head of state and first citizen of India, as well as the Supreme Commander of the Indian Armed Forces. President of India is also the formal head of all the three branches of Indian Democracy - Legislature, Executive and Judiciary...
(1976-77) - Gem & Jewellery Export Promotion Council Award successively for 5 years from 1981 to 1985
- Shiromani Award 1992 for Banking from Union MinisterMinister (government)A minister is a politician who holds significant public office in a national or regional government. Senior ministers are members of the cabinet....
for CommerceCommerceWhile business refers to the value-creating activities of an organization for profit, commerce means the whole system of an economy that constitutes an environment for business. The system includes legal, economic, political, social, cultural, and technological systems that are in operation in any... - Best Bank Award for Excellence in Banking Technology from Institute for Development & Research in Banking Technology (IDRBT), Hyderabad (2001)
- Best Bank Award for Innovative Usage and Application on INFINET (Indian Financial Network) from Institute for Development and Research in Banking Technology (IDRBT), Hyderabad (2002)
- Best Bank Award for Delivery Channels from Institute for Development and Research in Banking Technology (IDRBT), Hyderabad (2003)
- Runner-up Awards in the “Best Online and Multi-channel Banking Team” and “Outstanding achiever of the year-corporate” categories in recognition of outstanding achievement in Banking Technology for 2004, instituted under the aegis of Indian Banks Association and Trade Fairs & Conferences International.
- Best PSU Bank of the year by Bloom berg
- UTV Financial Leadership Award 2011
- Best Nationalized Bank by Financial Express (Source : Self Advertisement in Hindustan Times, Delhi, Front Page, 02 Apr 2011)
Major recognitions
- One of the Best 200 companies worldover outside the US having a turnover under a billion US$ - ForbesForbesForbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
Global, Hong KongHong KongHong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
, issue dated 27 October 2003 - India’s Best Public SectorPublic sectorThe public sector, sometimes referred to as the state sector, is a part of the state that deals with either the production, delivery and allocation of goods and services by and for the government or its citizens, whether national, regional or local/municipal.Examples of public sector activity range...
Bank - Business TodayBusiness TodayBusiness Today may refer to:*Business Today , an American, non-profit student organization*Business Today , an Indian fortnightly business magazine* Business Today...
- KPMGKPMGKPMG is one of the largest professional services networks in the world and one of the Big Four auditors, along with Deloitte, Ernst & Young and PwC. Its global headquarters is located in Amstelveen, Netherlands....
Survey dated 7 December, 2003 - India’s Strongest and Asia’s Second Strongest - The Asian Banker, SingaporeSingaporeSingapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
dated 15 December 2003 - India’s Best Public Sector Bank - OutlookOutlook (magazine)Outlook is one of India's four top-selling English weekly newsmagazines. Like many other Indian magazines, it is reluctant to reveal its circulation, but the 2007 National Readership Survey suggested 1.5 million copies...
Money , 15 March 2004 - One among the Best 200/100 companies in Asia/Pacific and Europe having turnover under a billion US $ - Forbes Global, Hong Kong dated 1 November 2004
- One among India’s Best Public Sector Banks - Business TodayBusiness TodayBusiness Today may refer to:*Business Today , an American, non-profit student organization*Business Today , an Indian fortnightly business magazine* Business Today...
, 26 February 2006