Corporation Bank in MoU with KVIC, Khadi Commission

Mangalore Today News Network

Mangaluru, Aug 30, 2016: A release here said  Corporation Bank and the  KVIC, Khadi and Village Industries Commission on Aug 29, Monday entered into a memorandum of understanding for online disbursement of Margin Money to all financing banks across India under the Prime Minister’s Employment Generation Programme (PMEGP) application process.

KVIC has designated Corporation Bank as single nodal Bank to handle margin money disbursement.

The process of Margin Money disbursement has been reduced to one day from the existing period of more than one month.  Similarly, Corporation Bank has implemented notification and MIS flow for all stakeholders.