EXPLORATION OF WEBSITES OF FINANCIAL INTERMEDIATES TO UNDERSTAND ABOUT THEIR PRODUCT AND SERVICE OFFERED

Introduction The term financial intermediary may refer to an institution, firm or individual who performs intermediation between two or more parties in a financial context. Typically the first party is a provider of a product or service and the second party is a consumer or customer. Financial intermediaries are banking and non-banking institutions which transfer funds from economic agents with surplus funds (surplus units) to economic agents (deficit units) that would like to utilize those funds. FIs are basically two types: Bank Financial Intermediaries, BFIs (Central banks and Commercial banks) and Non-Bank Financial Intermediaries, NBFIs (insurance companies, mutual trust funds, investment companies, pensions funds, discount houses and bureaux de change). Financial intermediaries can be: Banks; Building Societies; Credit Unions; Financial adviser or broker; Insurance Companies; Life Insurance Companies; Mutual Funds; Pension Funds. Etc.

Financial Intermediaries are broadly classified into two major categories: 1) Fee-based or Advisory Financial Intermediaries 2) Asset Based Financial Intermediaries.

Fee Based/Advisory Financial Intermediaries: These Financial Intermediaries/ Institutions offer advisory financial services and charge a fee accordingly for the services rendered. Their services include: i. Issue Management ii. Underwriting iii. Portfolio Management iv. Corporate Counseling v. Stock Broking vi. Syndicated Credit vii. Arranging Foreign Collaboration Services viii. Mergers and Acquisitions ix. Debentive Trusteeship x. Capital Restructuring

ASSET-BASED Financial Intermediaries: These Financial Intermediaries/Institutions finance the specific requirements of their clientele. The required infra-structure, in the form of required asset or finance is provided for rent or interest respectively. Such companies earn their incomes from the interest spread, namely the difference between interest paid and interest earned.

PRODUCT AND SERVICE OFFERED BY CORPORATION BANK Corporation Bank Corporation Bank is an Indian bank based in Mangalore, Karnataka. The bank was founded in the year 1906 at a town named Udupi in Karnataka with an investment of just Rs. 5000. e bank has pan-India presence with 6,164 functional units comprising 1500 branches, 1274 ATMs & 3390 branchless banking units as of 31.03.2012. The total business of the bank during the financial year 2011-12 has been Rs.2,03,598 crore, as on 31.03.2011. The total deposits have grown to Rs.1,46,142 crore. Total income of the bank reached Rs.14,510.40 crore during this period. Operating profit of the bank reached Rs.2,855.97 crore and net profit reached Rs.1,506.04 crore. Key Attributes Corporation Bank has an array of awards and recognitions to its credit, including National Award for Assistance to Exporters from the President of India for the year 197677, Shiromani Award for Banking from Union Minister of Commerce in the year 1992, Best Bank Award for Excellence in Banking Technology from Institute for Development and Research in Banking Technology (IDRBT) in the year 2001, and Best Bank Award for Innovative Usage and Application on INFINET (Indian Financial Network) from the same institution in the year 2002.

Apart from it, Corporation Bank has been the path breaker among the Indian banks in many ways, as it was the first bank in the country to launch Cash Management Services, Gold Banking, m-Commerce and 100% Core Banking Services (CBS) compliance. Products and Services Corporation Bank offers a wide range of banking products and services to its customers, including Personal Banking Services, Internet Banking Services, Value Added Banking Services, Corporate Banking Services and Credit Card & Debit Card Services. The bank allocates due attention towards its corporate and international business customers, bringing some customized services such as Gold Card Scheme for Exporters. Also, the bank has introduced some specialized services to cater to the specific needs of Micro and Small Enterprises (MSE) customers, enabling them leverage its potential to their maximum benefit.

The main Products and Services offered by the bank includes the following

Anywhere banking CorpConvenience International Debit Card Corp International Credit card ASBA facility for IPO Inter Bank Payment Service (IMPS) Corp Money Purse VISA Gift Card Campus Cash card Corp Travel Card Funds Transfer using ATMs Online funds transfer using internet SMS Banking Mobile Banking Internet Banking M-commerce Multi city cheques Online Tax Payment Payment of Income Tax through Corporation Bank ATMs Pay Roll Account Millionnaire RD account Corp Recur Three-in-One account Gold Coins Corp Home-Housing Loan Corp Vehicle - Loan for vehicles Corp Vidya - Education Loan Corp Site Loan Corp Personal Loan Corp Consumer Loan Corp Doctor Plus Corp Mortgage - Funds against residential/commercial property Corp Vyapar - Short term credit for traders Corp rental - Finance against future rent receivable

Corp Shelter - Reverse mortgage loan for senior citizens Corp Mitra - Personal loans to employees of other companies holding salary accounts with corporation bank Corp Investor Shoppe - Health check up of financial portfolio NRI Services Cash Management Services for corporate Fast Collection Service Corp New Gen SB account

FINANCIAL SERVICE MANAGEMENT ASSIGNMENT

PRODUCTS AND SERVICES OFFERED BY CORPORATION BANK

Submitted byBikash Sahu MBA 2nd year 11397022