INTRODUCTION 

The Government of India resolved that in order to ensure greater and more effective access to information, it is required that the Freedom of Information Act, 2002 must be made more progressive, participatory and meaningful. On this issue, National Advisory Council suggested certain important changes. In view of the significant changes proposed by the National Advisory Council and others, it was decided to repeal the Freedom of Information Act 2002 and enact law for providing an effective framework for effectuating the right of information recognized under Article 19 of the Constitution of India. To achieve this objective The Right to Information Act 2005 was enacted by the Parliament which received the President’s assent on 15th June 2005.

All Public Sector Banks are “Public Authorities” for the purpose of the Act and are governed by the provisions of the Act. Keeping in view the provisions of the Right to Information Act, and also our image as an organization which is working in a transparent manner, observing good corporate governance principles, we disclose in the following pages the information regarding working of our organization, for the benefit of our customers and general public.

CORPORATION BANK 

1.0 The particulars of our Organisation, functions and duties: Sec.4(1)(i) 

The Bank, earlier known as The Canara Banking Corporation(Udupi)Ltd. started its operation on 12th March 1906 at Udupi, a temple town in Karnataka. It was founded by Mr. Khan Bahadur Haji Abdullah Haji Kasim Saheb Bahadur, a philonthropist with a view to encourage thrift among all. The name of the Bank was changed to ‘Corporation Bank Ltd.’ on 26-4-1972. The Bank was nationalized on 15th April 1980 as per the provisions of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.

The Bank, carries on the business of banking as envisaged under the provisions of Banking Regulation Act 1949. Being a nationalized bank, it functions under the overall guidance of Ministry of Finance, Reserve Bank of India and the Board of Directors of the Bank. As on 31-3-2007, the bank had 901 branches spread across 23 States and 2 Union Territories , 47 Extension Counters and 929 ATMs across the country. The Bank has a three tier organizational structure consisting of Corporate Office, 19 Zonal Offices and the branches. The Bank is listed in Stock Exchange, Mumbai with stock code 532179 and National Stock Exchange with the code ‘CORPBANK’. The financial results of the Bank are not only submitted to Stock Exchange on quarterly basis but also published in one national newspaper and one regional language newspaper. The financial performance of the bank for the last 10 years is furnished in Annexure-I-A.
The main functions of the Bank are as under:

1. Acceptance of deposits from the public
2. Deployment of funds by lending
3. Anciliary business such as remittances, collection, locker business, foreign exchange services etc.
4. Agency Business such as distribution of LIC Policies, Mutual Fund products, collection of taxes/excise etc.

The financial results, general shareholder information, shareholding pattern etc, are put in the website of the Bank www.corpbank.com. 

2.0 The Powers and Duties of Officers and Employees: Sec.4(1)(ii) 

The powers and duties of the Officers and Employees are incorporated in the policies laid down by the bank with the approval of the Board. The top management, executives and other officials discharge their duties in furtherance of the business plan objectives framed by the bank from time to time. The delegated powers are periodically reviewed by the Board and necessary revision is made for effective functioning of the Bank.

3.0 The procedure followed in the decision making process including channels of supervision and accountability: Sec.4(1)(iii) 

The Bank has a three tier organizational set up consisting of branches, Zonal Offices and Corporate Office. The decision making process is based on the delegated power to each units. The Board of Directors of the Bank or its Committees are empowered to formulate policies regarding the delegation of powers to various functional heads. The Board of Directors, in turn, are guided by the policies of Government of India and Reserve Bank of India in formulating policies for implementation by the Bank.

4.0 The norms set by the Bank for the discharge of its functions:Sec.4(1)(iv) 

The Bank believes that sound principles of corporate governance are important keys to success, as these enhance the ability to secure the confidence of its stake holders. Good corporate governance starts at the top, both with the Board of Directors and the Management who take appropriate steps in meeting highest standards of excellence. The ethos of the Bank aims at:

a) Maximising long term shareholder value in a legal and ethical manner.
b) Ensuring fairness, courtesy and dignity in all transactions within and outside the bank with customers, employees, investors, partners, competitors, the Government and the Society.
c) Open, transparent and merit based Management

5.0 The rules, regulations, instructions, manuals and records held by it or under its control or used by its employees for discharging its functions: Sec.4(1)(v) 

The bank is guided by the circulars/instructions issued by Ministry of Finance, Reserve Bank of India and Indian Banks’ Association from time to time. However, these circulars/instructions are voluminous and it is difficult to incorporate the same here and they may be obtained from the Public Information Officers on request. The Bank has also brought out manual of instructions on various functional areas for the benefit of employees. The list of such manuals is furnished in Annexure-I-B The Bank has also published desk cards for the benefit of employees working in different counters. The list of such desk cards are furnished in Annexure-I-C. These manuals/desk cards are being updated from time to time. The Bank is also issuing circular instructions on various issues which are required to be implemented by our branches/offices. As these circulars are voluminous, it may not be possible to publish the same here. However, specific request, if any in this regard will be considered by Public Information Officers.

6.0 A statement of the categories of documents that are held by it or under its control: Sec.4(1)(vi) 

In view of multitude of functions and geographical spread of branches/offices, it is impractical to publish the statement of the categories of documents held by us. However, specific request, if any, in this regard will be considered by the Public Information Officers.

7.0 The particulars of any arrangement that exists for consultation with or representation by the members of the public in relation to the formulation of its policy or implementation thereof :Sec.4(1)(vii) 

There is no arrangement for consultation with the members of the public in formulation of policies by the Bank. However, the general public aggrieved by the policies of the Bank may air their grievances through the various channels available to them as indicated in the subsequent paragraphs. 

8.0 A statement of the Board, Councils, Committees and other bodies consisting of two or more persons constituted as its part or for the purpose of its advice and as to whether meetings of these boards, councils, committees and other bodies are open to the public, or the minutes of such meetings are accessible for public: Sec.4(1)(viii) 

8.1 The Board of Directors: 

The Board is constituted in accordance with the Banking Companies (Acquisition and Transfer of Undertakings)Act 1980 and Nationalised Banks (Management & Miscellaneous provisions)Scheme 1980 and is represented by persons with diversified professional experience. The Directors bring in wide range of expertise and experience to the Board, facilitating proficient and unbiased direction and control to the Bank.

8.2 The Board has constituted various committees as under, which provide specific and focused governance in the important functional areas and control affairs of the Bank.

8.2.1 Management Committee: 

The Management Committee is constituted as per the provisions of Nationalised Banks (Management and Miscellaneous provisions) Scheme 1980 and consists of 6 Directors.

8.2.2 Audit Committee: 

The formation and functioning of Audit Committee is governed by the directions of RBI. The Audit Committee provides direction as also oversees the operation of the total audit functions in the Bank and follow up the statutory/external audit of the Bank and inspection of RBI.

8.2.3 Departmental Promotion Committee: 

The Committee assesses the disciplinary cases and promotions to top executive cadre in the Bank.

8.2.4 Investor Grievance Committee: 

The Committee looks into the redressal of investor grievances.

8.2.5 Information Technology Committee: 

In the changing environment, to suit the growing needs of customers, the Bank has been taking various initiatives. To guide the bank for accelerated implementation of these projects and also to explore the possibility of providing innovative technology based products, this Committee has been constituted.

8.2.6 Risk Management Committee: 

The Committee was formed to guide the bank in respect of integrated risk management.

8.2.7 Committee to monitor large value frauds: 

With a view to provide focused attention on monitoring frauds of Rs.1 Crore and above, this Committee has been formed.

8.2.8 Share Transfer Committee: 

In order to meet the request of the shareholders such as transfer, rematerialisation and duplicate shares, the Committee was constituted.

8.2.9 Customer Service Committee: 

With a view to safeguard the individual customers right and to deliver better customer service, the Committee was constituted.

8.3 The Board and its Committees meet at frequent intervals and guide the bank to achieve its objectives in a prudent and efficient manner and to ensure high standards of customer service, ethical practice and professional management of the Bank. The responsibilities such as policy formulation, performance review analysis and controls are discharged by the Board and its Committees.

8.4 It may be noted that the meetings of the Boards or Committees are not open to the public and the minutes of such meetings are also not accessible to public.

9.0 A directory of Officers and Employees of the Bank: Sec.4(1)(ix) 

As the number of employees is quite large and they are liable to transfers, it is not possible to publish the list of Officers and keep the same updated from time to time. Any person interested in seeking information about any Officer or Employee of the Bank can approach the Public Information Officer in that behalf. 

10.0 The monthly remuneration received by eachof the officers and employees including the system of compensation as provided in the regulations of the Bank: Sec.4(1)(x) 

The information about the salary and remuneration paid to officers and employees can be obtained from the Public Information Officer.

11.0 The budget allocated to each of its agencies, indicating the particulars of all plans, proposed expenditure and reports on disbursements made: Sec.4(1)(xi) 

There are no plans and budgets for expenditure and disbursements, although there are targets furnished to the various functionaries at branches/Zonal Offices for mobilizing deposits, advances, non-interest income etc.

12.0 The manner of execution of subsidiary programmes, including the amounts allocated and the details of beneficiaries of such programmes: Sec.4(1)(xii) 

There are no subsidiary programmes or plans for lending activity of the bank. However, the bank has various lending schemes to cater to the different sections of the society and details are available in our website www.corpbank.com. 

13.0 The particulars of recipients of concession, permits or authorization granted by the Bank: Sec.4(1)(xiii) 

The bank has not granted any concession, permits or authorization and the business activity of the bank has no relationship with any public activity or public interest.

14.0 Details in respect of the information, available to or held by it, reduced in an electronic form: Sec.4(1)(xiv) 

Any person requiring information in this regard may approach the Public Information Officer.

15.0 The particulars of facilities available to citizens for obtaining information, including the working hours of a library or reading room, if maintained for public use: Sec.4(1)(xv) 

All our branches/offices observe 15th of every month as ‘Customer Day’ and on that day customers/public may approach the unit heads without any prior appointment. In large branches, ‘May I Help You’ counters are provided wherein the public can obtain the information. The following documents are also available in all our branches/offices which provide the details of the facilities available to customers and the grievance redressal mechanisms.
Deposit PolicyCitizen CharterFair Practice CodeFair Practice Code for LendersFair Practice Code for Credit Card operators
16.0 The names, designation and other particulars of the Public Information Officer: Sec.4(1)(xvi) 
Please refer item No.18 

17.0 Such other information as may be prescribed and thereafter update these publications every year: Sec.4(1)(xvii) 

Any person interested to know more about our bank, may visit our Website www.corpbank.com. or may send their queries to query @ corpbank.co.in Further, any suggestions, complaints etc. may be sent to Public Information Officer for necessary action.

18.0 Public Information Officers & Appellate Authorities at Head Office & Zonal Offices of the Bank: 

As per Section 5(1) of the Act, we hereby designate the following as Public Information Officers for providing information to persons requesting for the information & Appellate Authorities under the Act.
Any person interested to know more about our bank, may visit our Website www.corpbank.com. or may send their queries to query @ corpbank.co.in Further, any suggestions, complaints etc. may be sent to Public Information Officer for necessary action.

The List of Public Information Officers & Appellate Authorities: 

19.0 Procedure for Obtaining Information: 

19.1 Any person who desires to obtain any information under this Act, shall make a request in writing or through electronic means in English or Hindi o in the official language of the area in which the application is being made, accompanying such fee as may be prescribed to public information officer, specifying the particulars of information sought by him or her.

19.2 An applicant making request for information shall not be required to give any reason for requesting the same or any other personal details except those that may be necessary for contacting him.

19.3 The Public Information Officer, on receipt of a request, shall as expeditiously as possible and in any case within 30 days of the receipt of the request either provide the information on payment of prescribed fee or reject the request for specified reasons.

19.4 When the information sought for concerns the life or liberty of a person, the same shall be provided within 48 hours of the receipt of the request.

19.5 If the Public Information Officer fails to give decision on the request for information within the period specified, it shall be deemed to have refused the request.

19.6 No fee shall be charged from the persons who are below the poverty line as per State Government.

19.7 The person making request; for the information shall be provided the information free of cost if the bank fails to comply with the time limit specified above. 

19.8 When a request has been rejected, the Public Information Officer shall communicate to the person making the request: 

a) reasons for such rejection
b) the period within which an appeal against such rejection may be preferred and
c) the particulars of the appellate authority

19.9 Any person who does not receive a decision within the time stipulated above, or is aggrieved by the decision, may within 30 days from the expiry of such period, can prefer an appeal to such Officer who is senior in rank.

19.10 Exemption from disclosure: 

Not withstanding the above, the bank may not disclose information about the affairs of the customer as it cause unwarranted invasion of privacy of the customer or such information has no relationship with any public activity or interest as envisaged by Section 8(i) (j) of the Act.

20.0 Schedule of Fees/Charges: 

As per the Right to Information (Regulation of Fee & Cost) Rules 2005, the following schedule of fees/charges has been prescribed:

a) Application fee - Rs.10/-
b) Charges for each page (A4, A3 size paper) - created or copied -Rs 2 per page.
c) In case of larger size paper - Actual charges incurred
d) For information provided in diskettes or floppies - Rs.50/- per diskette or floppy.
e) For information provided in printed form - at the price fixed for such publication or Rs.2/- per page of photo copy for extracts from the publication.
f) For inspection of records - No fee for the first 15 minutes and a fee of Rs.5/- for each 15 minutes or fraction thereof.
g) The application fee/other charges should be paid by cheques / DDs drawn on "Corporation Bank A/c - Public Information Officer" and they should be made payable at the centers where the office of the Public Information Officer is located.

The Bank's performance from 1998-99 to 2007-08 - Annexure I A: 

List of Manuals- Annexure I B
List of Desk Cards Issued- Annexure I C
Membership of the Directors on the committees of Board of Directors of the Bank-Annexure I D