State wise list of Corporation Bank IFSC code, MICR code and addresses of all branches in India
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It is possible to transfer any amount of money from your own savings account to that of a beneficiary’s account anywhere in India using the NEFT or RTGS services. This is possible no matter which bank that you would like to transfer to as long as both yours and the bank branch that you want to transfer to have NEFT/RTGS facility.
You will need to know the IFSC code of the recipient Bank branch in order to complete the transaction. IFSC Code (Indian Financial System code), is unique to each branch of bank in the country. MICR Code (Magnetic Ink Character Recognition Code) is used for both domestic and international transactions. These unique codes which were introduced by RBI is used in order to make transactions more secure, efficient and accurate. Chances of fraud are also diminished thanks to these codes.
As a customer of Corporation Bank, one must find and use the IFSC code for NEFT/RTGS services. Other than for transferring funds to a beneficiary’s bank account, the NEFT/RTGS services can also be used to make payments for Mobile bill payments, Share Trading online, paying loan EMIs, insurance premium payments, ticket booking for bus and railway, booking flight tickets, Equity Trading, Fund Transfers, purchase of mutual funds, etc.
IFSC consists of 11 characters (both alphabets and numbers) which are uniquely assigned to each branch of bank in India. It consists of three parts: the first four characters are alphabets and represent the name of the bank. This is followed by the digit ‘0’ which is there for future use. The final six characters are usually numbers and indicate a particular branch. For example, the IFSC code for a Corporation Bank’s branch is CORP0xxxxxx. The first four alphabets represent the name Corporate Bank, which is followed by a zero. The last 6 digits will identify which branch of Corporate Bank that you are looking for.
IFSC and MICR codes are easily available at various portals such as Corporation Bank’s official website. The complete list is also provided online by the government. You can find the IFSC code of a particular branch printed on the leaves of cheque books provided by the bank branch. You can also find IFSC code of a bank on third party financial websites like BankBazaar which provide people with codes of all the NEFT/RTGS enabled banks in India.
If you decide to visit BankBazaar to find the codes of the particular branch of Corporation Bank, these are the steps you must follow:
Corporation Bank’s customers can make use of the NEFT and RTGS facilities available to transfer funds from any of the Corporation Bank branches to any other bank branches around the country, as long as that branch of bank has the same facilities.
National Electronic Funds Transfer (NEFT):
The NEFT or National Electronic Funds Transfers works on Deferred Net Settlements which means that transactions are done in batches an hourly schedule. If you debit the amount of money that you need to transfer within the time-frame that is stipulated by the bank, it will be credited to the beneficiary on the same day. If not, the amount will be credited on the following working day. At Corporation Bank, the NEFT service is available on weekdays and Saturdays between 8.00 am 7pm, except on the 2nd and 4th Saturdays of the month which are Bank Holidays.
You will need the following information to use NEFT service at Corporation Bank:
The charges for outward NEFT transactions are:
| Amount | Charge (per transaction) |
| Up to Rs 10,000 | Rs 2.50 |
| Rs 10,001 – Rs 1 lakh | Rs 5 |
| Above Rs 2 lakh | Rs 25 |
Inward NEFT will not be charged.
Real Time Gross Settlement System (RTGS):
Real Time Gross Settlement System (RTGS) is one of the fastest and safest methods of fund transfer. It is usually used when large sums of money is involved in the process. RTGS transfers funds on an individual basis which means that the clearance of funds are scheduled individually and not batch-wise. Corporation Bank ensures that all the transactions will be completed on the same day that the customer debits the fund, unless it has been done after the indicated time frame.
You will need the following information to use RTGS service at Corporation Bank:
The RTGS Transaction Timings and Corresponding Charges:
| RTGS Transaction | Upto 3.30 pm | After 3.30 pm |
| Rs.2 lakh to Rs.5 lakh | Rs.29 [25+4 tax] | Rs.35 [30+5 tax] |
| Above Rs.5 lakh | Rs.57 [50+7 tax] | Rs.63 [55+8 tax] |
A public sector banking company headquartered in Mangalore, Corporation Bank was initially established as Canara Banking Corporation Limited in Udupi in 1906. The name of the bank was changed to Corporation Bank in 1972. The bank has grown in leaps and bounds since its early inception. Other than the NEFT/RTGS facility that the bank offers, Corporation Bank also has services such as Loans, Credit Cards, Savings, Investment vehicles, etc.
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The results for third quarter ending on 31 December, 2016 was announced by the Corporation Bank. This bank posted a net profit of Rs.159.05 crore against a net loss of Rs.388.38 crore in the same quarter of the previous year. The results were announced at a media conference by Bank Managing Director and CEO Jai Kumar Garg who said that sustained efforts by employees to reduce operational costs and increase revenues yielded splendid results. The bank had posted a net profit of Rs.206.25 crore for second quarter that ended in September 2016.
Current and Savings deposits grew significantly to Rs.54,026.15 crore from Rs.39,048.42 crore in December 2015, advances saw a marginal decline. This was attributed to reduced exposure of the bank towards a large clientele wherein NPA was higher than the focus on retail credit where NPA was low.
11th February 2017
The Corporation bank recently announced the cessation of director Adish Kumar Jain. He was a non-official and a part-time director under the Chartered Accountant division of the bank. With effect from 26th December, Adish Kumar Jain will no longer be the director due to the completion of his term on the 25th December, 2016.
26 December 2016
Corporation Bank has won the ‘Best MSME Bank Award 2016’. The award is instituted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM). Jai Kumar Garg, the MD and CEO of the bank, received the award from Haribhai Parthibhai Chaudhary, Minister of MSME, at the 4th SMEs Excellence Award-2016. The award was given based on the bank’s performance like growth, targets, quality, and innovation in the MSME segment.
8th December 2016
A new branch was opened by Corporation Bank comprising of an on-site ATM at Narmada building in Mangaluru, on Falnir road on the 14th of October. Managing Director and CEO of Corporation Bank, Mr. Jai Kumar Garg inaugurated the branch along with the parish priest of Milagres Church, Rev.Fr. Valerian D’Souza and the Executive Director of Corporation Bank, Mr.Gopal Murli Bhagat, Mr. AK Vinod, the Deputy General Manager and Zonal Head of the Mangaluru Zone. These dignitaries were also joined by the Assistant General Manager, Mr. SL Ganapathy and staff and customers.
10th October 2016
Mangalore based Corporation Bank has launched a new facility where credit card holders can use the online module to generate PIN for transactions. Christened “Green PIN”, this facility lets cardholders instantly generate a PIN without hassles.
Cardholders no longer have to wait for PIN details to be sent to manually in case the credentials are lost/stolen. It must be noted that the Reserve Bank of India has made PIN based chip cards mandatory for all POS (Point of Sale) transactions. This facility also lets new customers generate PIN for authentication immediately after receiving their card.
9th August 2016
The MD & CEO of Corporation Bank, Mr. Jai Kumar Garg, has announced the introduction of ‘Group Credit Life Insurance Scheme’ at the bank in association with LIC, India. It was inaugurated by passing over the insurance documents to a few recipients of the branch of Mangalore and Poonja. It is a one-time-premium policy. As of now, it is available in every branch in Mangalore and soon in other places. It is customized for those aged between 18 and 60 who are their term loan customers. The event was graced by the presence of senior executives from both the organizations.
5th August 2016
Honorable Railway Minister, Mr. Suresh Prabhu, this week introduced Visa Platinum and Visa International Signature credit cards of Corporation Bank at their head office in Mangalore. Addressing the dignitaries and staffs present, he praised the bank for its competence and user-friendly outlook regarding all their products and services. He also applauded the lender for the taking the initiative in digital banking. The event was also graced by the bank’s CEO and MD, Mr. Jai Kumar Garg and the executive director, Mr. Sunil Mehta. All the disbursements and transactions have been digitalized, doing its bit in moving towards a cash-less society. It is part of the NEFT network which helps customer to transfer bulk cash from any Indian account electronically using IFSC Code.
17th May 2016
Federation of Industry, Trade and Services (FITS) has awarded Corporation Bank with the Excellence Award on Empowering MSMEs 2016. The Micro, Small and Medium Enterprise sector in India has a lot of potential since it is an emerging dynamic market. These MSMEs help in the industrialization of rural and backward areas and generate employment opportunities at comparatively lower capital.
Corporation Bank offers loans of up to 1 Crore Rupees to help MSMEs grow bigger and better. Also, the bank offers concessional rates of interest to foster entrepreneurship among MSME owners. Corporation Bank also offers a concession of 50 bps to support the Stand Up India initiative.
5th May 2016
Corporation Bank launched its own e-wallet service called ‘Corp e-Purse’ last week, for its sizable clienteles who are into smart phone banking. They announced this at the event of Bank’s 111th Foundation Day Celebrations. Mr. Jai Kumar, the CEO and MD of the bank released the product at this occasion. The event was graced by the presence of Mr. Sunil Mehta, the executive director and Mr. Adish Kumar Jain, the director. This virtual purse had safe and real time payment processing facility and enables a slew of smartphone based disbursements such as instant money transfer by entering the relevant account number and IFSC Code to both individual and mercantile account.
4th April 2016
Corporation Bank is preparing to establish a forex hub in the Silicon Valley as announced by Chairman and MD of SR Bansal. He is positive that once this centre comes into being, every Corporation Bank branches except those in extreme rural areas, will be fortified with hi-tech scanners and exceptional bandwidth. Forex is the main prerequisite when you look from a customer’s viewpoint with matching rates.
The bank has recorded a gross forex revenue (Tirupur only) of INR 2300 crore in the previous financial year. It is aiming a business of at least INR 3000 crore this year. To reinforce its position in Tirupur, Bansal strategizes to add two more regional offices to its prevailing network of three before end of year. A branch at Avinashi is projected to become effective before October end. With IFSC Code in effect, customers can manage their accounts using internet banking or mobile banking app.
15th September 2015
Adding to its Tirupur branch network, Corporation Bank would be opening two branches in the city along with five ATM kiosks. This announcement was made by the Chairman and Managing Director, S.R.Bansal at a bank meeting held recently. He was addressing importers and exporters in the meeting, with industrialists and representatives from the exporters’ associations honoured during the event. Corporation Bank offers various schemes to importers and exporters with several schemes like the Corp Global Current Account for Forex clients along with the Corp Global Card.
Corporation Bank would also be setting up an e-lobby in the Tirupur main branch office within a month’s time. The e-lobby would provide a very convenient way to transact for customers, with services like account management, fund transfers using IFSC codes and other products. The DGM and Zonal Head for Coimbatore, K. Venkatesh Rao and U. Vasanth Kini, Circle General Manager for Chennai Circle were also present in the meeting along with businessmen and corporate customers.
10th September, 2015
