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Corporation Bank

RBI has allotted IFSC codes to all the bank branches in India to easily identify transactions done through a particular branch. IFSC codes are unique 11-digit codes with alphanumeric characters, which are given to all bank branches and the code won't repeat. It is mandatory to enter IFSC code or MICR code to identify the branches to perform fund or cash transactions. Without this code the bank branches can't transfer funds. These codes help the users to ensure that the transferred funds go to the right person, without any errors.

For example, we can take the IFSC code: “CORP0000487” of Corporation Bank in Anna Nagar, Chennai, Tamil Nadu.

  • Here, the first four alphabets, CORP, indicate the bank name, i.e., Corporation Bank.
  • The fifth digit is 0 (zero) - provided for future use
  • The last six digits 000487 - denotes a particular branch of Anna Nagar, Chennai, Tamil Nadu.

According to RBI guidelines, the IFSC code is mandatory for interbank transfers via NEFT and RTGS to any bank in India. With help of IFSC codes and MICR codes, the online fund transfers are made easy without any confusion. The first four Characters mentioned in IFSC code denote the bank names and the last six digits helps to identify the bank branch name involved in the transaction. The fifth digit is zero for all banks which is next to alphabets provided for future use. This code helps to avoid the risk factor while sending and receiving funds through banks in our country and it makes sure that the money reaches the right account holder at the specified branch.

Easy way to find Corporation Bank IFSC Code and MICR Code?

If the customer knows the full name of the bank and its branch location, then it is easy to find IFSC codes and MICR codes within a few seconds. The customer can find MICR codes and IFSC codes which are printed on passbook and cheque books/ leaves issued by Corporation Bank.

The website of Reserve Bank of India also offers the entire list of IFSC codes required for the account holder. The customers can also enter on the bank’s official website. Some of the third-party financial websites or other advertisement websites are also rendering the service to get IFSC codes of any bank and its branches located in India.

Some of the popular financial comparison sites display the table carrying IFSC codes for Corporation Bank branches throughout India. Any account holder visiting the website can choose the Bank IFSC code link present on the home page. Customers by clicking the link will lead to another page where four columns are displayed. Customers must feed some bank details like the state in which it is located, the district in which it is located and branch name to get IFSC codes or MICR codes for Corporation Bank. The website displays all details about the bank such as the phone number, address of the branch, name, branch code etc.

Corporation Bank Branch Details

About the Corporation Bank

  • Corporation Bank was founded on 12 March 1906 in Udupi, a city in the southwest of Karnataka State. Haji Abdulla Haji Khasim Saheb Bahadur as founding president of the bank started with ₹5,000 capital and guided by the principles of the Swadeshi movement of Bal Gangadhar Tilak.

  • Recently, the Corporation Bank raised an amount of ₹500 crore by issuing the bonds and the Securities Allotment Committee of the Board of the Bank also allotted the same. The Corporation Bank launched its RuPay Select and RuPay Platinum credit cards on 2 December 2017. In India, RuPay credit cards are accepted at all RuPay-enabled more than 1.5 million-plus PoS terminals and over 80,000-plus e-commerce merchants and at all ICS Partner acceptance points (POS, e-commerce merchants) globally.

  • In August 2019, Finance Minister Nirmala Sitharaman announced that Corporation Bank and Andhra Bank would be merged into Union Bank of India. After its merger it would make Union Bank of India as one of the largest public sector banks in India with an assets of ₹14.59 lakh crore and 9,609 branches. On 13 September 2019, the Board of Directors of Andhra Bank approved the merger. The Union Cabinet also approved the merger on 4 March 2020, and it commenced on 1 April 2020.

  • Now, the Corporation Bank is a wholly owned subsidiary of Union Bank of India. Its headquarters is located at Mangalore, Karnataka, India. It has a pan-Indian presence. At present, it has a network of 2,432 fully automated CBS branches, 3,040 ATMs, and 4,724 branchless banking units across the country. In 2019, Finance Minister of India Nirmala Sitharaman announced that Corporation Bank and Andhra Bank would be merged with the Union Bank of India on 1 April 2020 along with all their branches.
For further details contact: 1800 208 2244 (In India-Toll Free), 1800 22 22 44 (In India-Toll Free).

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