Corporation Bank approves merger of its sponsored gramin bank with Cauvery Kalpataru

Corporation Bank has received its board approval for the amalgamation of the Chikmagalur Kodagu Gramin Bank, a Regional Rural Bank (RRB), sponsored by it with Cauvery Kalpataru Grameena Bank sponsored by State Bank of Mysore. The directive comes to force with effect from November 01, 2012 as per the directions of Government of India, Ministry of Finance, Department of Financial Services, vide their Notification dated November 01, 2012. However, financial terms of the transaction were not disclosed.

Corporation Bank has been serving millions of customers since 1906. With over 6000 service outlets overseas, it is one of the premier public sector banks in India.