Corporation Bank, public sector lender has entered into a Memorandum of Understanding (MoU) with New India Assurance Co for implementing the ‘Pradhan Mantri Suraksha Bima Yojana’. Under the scheme, the savings bank account-holders will be eligible for a cover of Rs 2 lakh at a premium of Rs 12 a year. The enrolment period for the scheme is from June 1 to May 31, 2016.
Corporation Bank has registered a rise of 16.20% in its net profit at Rs 147.21 crore for third quarter ended December 31, 2014 as compared to Rs 126.69 crore for the same quarter in the previous year. Total income of the bank has increased by 5.30% at Rs 5209.54 crore for Q3FY15 as compared Rs 4947.34 crore for the corresponding quarter previous year.
