The Hindu : Good response to Corp. Bank's home loan fairs

Online edition of India's National Newspaper
Wednesday, Mar 12, 2003

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Business

Good response to Corp. Bank's home loan fairs

By Our Special Correspondent

HYDERABAD MARCH 11. The concept of `Home Loan Fairs' seems to be paying rich dividend to the Corporation Bank, which has sanctioned nearly Rs. 100 crores home loans to 1,752 beneficiaries in six centres where such fairs were held since December.

Addressing a press conference here on Tuesday, M. V. Nair, General Manager, Corporation Bank, said 9,754 registrations were received from fairs held so far. It plans to hold fairs in 16 more centres by June. The next fair (ninth in series) is being held here on March 15 and 16.

The overall home loan portfolio is set to grow by 140 per cent to about Rs.1,500 crores by March. It grew by 97 per cent to Rs.1,245 crores by December 2002, from Rs. 652 crores in March 2002, Mr. Nair said.

Mr. Nair said the bank expected approval in a week's time to take on the role of a non-life insurance corporate agency, for which it was in the process of tying up with New India Assurance Company. It has already tied up with the Life Insurance Corporation for selling life insurance products.

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