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MEDIA RELEASE BSE inducts Corporation Bank as clearing bank Corporation Bank today joined the Bombay Stock Exchange Ltd (BSE) as a clearing Bank. The induction of Corporation Bank will further expand the options for the BSE members. It demonstrates the commitment of the Exchange to offer it’s members excellent services and admission of Corporation Bank, as a Clearing Bank is a step in that direction. During the last two years BSE has sold over 200 new Memberships and the Exchange has expanded its terminal network to 423 cities across the country. During the agreement signing ceremony between BSE and Corporation Bank, Mr. Rajnikant Patel, Managing Director & CEO of BSE said, " We welcome Corporation Bank as clearing bank to the BSE fold. This is a part of our many new initiatives to provide the best of facilities, efficient and professional services to our members and expand the reach through the branch network of Corporation Bank. BSE will also leverage Corporation Bank's expertise in the financial market to provide innovative products and services for the benefit of brokers, market intermediaries, corporates and others." Speaking on the occasion, Shri K. L. Gopala Krishna, Executive Director, Corporation Bank, said "It is a privilige to be associated with a prestigious institution like BSE in the capacity of a clearing member. We have made a good beginning with SHCIL Services as a member and hope to grow to be a very valuable clearing house member of BSE." About Bombay Stock Exchange Bombay Stock Exchange Limited is the oldest stock exchange in Asia with a rich heritage. Popularly known as "BSE", it was established as "The Native Share & Stock Brokers’ Association" in 1875. It is the first stock exchange in the country to obtain permanent recognition in 1956 from the Government of India under the Securities Contracts (Regulation) Act, 1956. The Exchange's pivotal and pre-eminent role in the development of the Indian capital market is widely recognized and its index, SENSEX, is tracked worldwide. Earlier an Association of Persons (AOP), the Exchange is now a corporatised entity incorporated under the provisions of the Companies Act, 1956, pursuant to the BSE (Corporatisation and Demutualisation) Scheme, 2005 notified by the Securities and Exchange Board of India (SEBI). For more information, visit www.bseindia.com About Corporation Bank: Corporation Bank is one of the oldest banking institutions in India, which was founded in 1906. After nationalization in the year 1980, the pace of growth of the Bank accelerated and it made all-round progress. One of the unique achievements of the Bank is that it has been paying dividend continuously for the last 100 years since its inception. Today, with the most modern technology-driven products and services and nationwide branches & ATMs, Corporation Bank stands tall among the Public Sector Banks in the country with excellent track record in all the key parameters of banking. The Bank has over 920 ATMs across the country, which is the second largest ATM network in the public sector. It has implemented ‘Core Banking’ Solutions along with ‘Any Branch Banking’ and multi-city cheque facility, which is presently available at over 805 branches across the country, covering 96 per cent business of the Bank. The Bank is a pioneer among public sector banks to introduce Cash Management Services way back in 1992, which presently is availed by over 1000 corporate clients. The Bank's total business as of 30th September 2006 stood in excess of Rs. 62,000 crore. It aims to reach a level of Rs. 1 lakh crore business by the end of March 2009. Kalyan S. Bose
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