Corporation Bank, a premier Government of India Enterprise, in association with the Indian transnational general insurance company New India Assurance Company Ltd., now offers "Corp Mediclaim", a mediclaim scheme with cashless facility, as a part of its strategy to increase the bouquet of products being offered to its clients.

This new scheme was jointly launched today at a function in Mumbai attended by Shri. K. Cherian Varghese, CMD, Corporation Bank, Shri. P. K. Gupta, ED, Corporation Bank and Shri. R. Beri, CMD, New India and Shri. A. V. Purushothaman, GM and Director, New India Assurance Co.Ltd.

Shri. K. Cherian Varghese, CMD, Corporation Bank addressing the press stated that Corporation Bank, keeping with the aspiration of its customers, is offering wide range of products and services. He further stated that the Bank is in the forefront in offering value added and innovative products and services and that the Bank aims to become a financial super market offering the entire range of financial products under one roof. The distribution of mediclaim product is a step in that direction. He added that the product is offered for the first time in the country to ATM/ Debit card holders of a Bank and hoped that in view of the rising costs of quality health care in the country, the scheme would be well received by the card holders.

Shri. R. Beri, CMD, New India Assurance Company Ltd., stated that the mediclaim product offered to the card holders was an advanced product offering medical insurance cover on a floater basis with the added power of cashless hospitalization. He further stated that substantial savings in premium would accrue to the card holder as compared to a conventional mediclaim scheme as the total insurance cover would float among the family members. He added that in addition the regular tax benefits under Section 80 D upto Rs.10,000/- will also be available.

Shri. P. K. Gupta, Executive Director, Corporation Bank, present on the occasion stated that the innovative product would help defray the high cost of medical expenses. The Bank has facilitated to its customers to avail this cover at a very affordable rate, he added.