Date:31/05/2006 URL: http://www.thehindubusinessline.com/2006/05/31/stories/2006053103780600.htm

Back Corporation Bank launches new product

Our Bureau

ONLINE TRANSFER OF FUNDS: (From right) Mr K. L. Gopalakrishna, Executive Director, Corporation Bank; Mr B. Sambamurthy, CMD; and Mr U. Balakrishna Bhat, General Manager, at the launch of `CorpBullet' in Bangalore on Tuesday. - G. R. N. Somashekar

Bangalore , May 30

Corporation Bank intends making its inter bank funds transfer arrangements international.

Speaking to reporters at the launch of the bank's inter bank funds transfer product branded as "CorpBullet", the Corporation Bank Chairman and Managing Director, Mr B. Sambamurthy, said: "The international launch of the product would be entirely on a C2C basis (customer to customer) basis."

Referring to "CorpBullet" Mr Sambamurthy said that initially, the bank planned to tapped its customer base of its Collection and Payment Services branches and latter on extend to other large corporate customers as well. The product would help the bank's non-fund based income by at least 15 per cent, he added.