Corporation Bank, public sector lender has opened one new SME (small and medium enterprises) loan centre in Ludhiana on April 23, 2014. SME clusters, such as auto components, hosiery, machine tools, hand-tools, forging, and bicycle parts in and around Ludhiana would benefit from this initiative. Earlier, the bank had opened one SME loan centre in Ahmedabad.
Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906. Government of India is the majority shareholder holding 59.82% stake in the bank. As on March 31, 2013, the bank has 1707 branches and 1425 ATMs.
