Corporation Bank has launched a common service center as a pilot project at Mumbai’s Dharavi area. The bank has tied up with eGovernance Service India for the project, which is intended to extend the outreach of business correspondents in order to cater to the financial needs of the financially excluded population. B.K. Srivastav, ED of the bank, inaugurated the center. The center will take care of account opening, cash deposit and withdrawal, remittances from an account with a bank to an account with the same or any other bank, balance enquiry and issue receipts/statement of accounts and disbursal of credit facilities to borrowers involving small amounts. The bank has made necessary infrastructure arrangements. It is using biometric authentication to identify the user and to authorize the transactions.
