MRPL signs MoU with Corporation Bank

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Mangalore, Feb 26: Mangalore Refinery and Petrochemical Limited (MRPL), an ONGC group today signed an Memorandum of Understanding with Public Sector Corporation Bank to leverage their respective strengths to provide a wholesome bouquet of services to customers in the fuel retail segment.

The MOU was signed by Corporation Bank General Manager B R Bhat and MRPL General Manager (Retail Sales) Sanjay Grover. Later addressing a joint press conference, Mr Bhat said that under the MoU the Bank would set up its ATMs at the MRPL retail outlets across Karnataka and other Southern states besides in other states to provide banking facilities for customers on the move. This would enable the bank service a large number of customers without having to bring them into the bank premises, he added.

He said that the bank had also planned to provide a bouquet of service through these proposed ATMs to be installed at the retail outlets of MRPL which included cash less transactions through Credit Cards, Debit Cards and Smart Cards.

Mr Grover said that MRPL had already got the approval from the government to set up a chain of 500 retail outlets across the country. After the successful launch of HiQ outlet at Maddur on the Bangalore-Mysore Highway in Mandya district, the HiQ outlets of the company at Hubli and Mangalore were getting ready for commissioning soon.

He said that the company had proposed to set up 25 outlets during the current year of the total 500 approved outlets. Of the 25, about 15 would come up in Karnataka, he said. Replying a query, he said that of the 500 approved HiQ outlets which was expected to be commissioned in next three years period, 60 per cent would be situated in the four Southern states of Karnataka, Tamil Nadu, Andhra Pradesh and Kerala, 20 per cent in Maharastra, Goa and Gujarat and remaining in the rest of the country, he said adding that the next phase of outlet would come up in Goa, Maharastra and Gujarat.


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