Canara Bank

Canara Bank is an Indian public sector bank based in Bangalore, India. Established in 1906 at Mangalore by Ammembal Subba Rao Pai. The Bank was nationalized in 1969. Canara bank has offices in London, Dubai and New York[3] also.

Canara Bank's first acquisition took place in 1961 when it acquired Bank of Kerala. This had been founded in September 1944 and at the time of its acquisition on 20 May 1961 had three branches. The second bank that Canara Bank acquired was Seasia Midland Bank (Alleppey), which had been established on 26 July 1930 and had seven branches at the time of its takeover.[5]

Canara Bank

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In 1958, the Reserve Bank of India had ordered Canara Bank to acquire G. Raghumathmul Bank, in Hyderabad. This bank had been established in 1870, and had converted to a limited company in 1925. At the time of the acquisition G. Raghumathmul Bank had five branches.[6] The merger took effect in 1961.[7] Later in 1961, Canara Bank acquired Trivandrum Permanent Bank. This had been founded on 7 February 1899 and had 14 branches at the time of the merger.[7]

Canara Bank acquired four banks in 1963: the Sree Poornathrayeesa Vilasam Bank, Thrippunithura, Arnad Bank, Tiruchirapalli, Cochin Commercial Bank, Cochin, and Pandyan Bank, Madurai. Sree Poornathrayeesa Vilasam Bank had been established on 21 February 1923 and at the time of its acquisition it had 14 branches. Arnad Bank had been established on 23 December 1942 and at the time of its acquisition had only one branch. Cochin Commercial Bank had been established on 3 January 1936, and at the time of its acquisition had 13 branches.[7]

The government of India nationalised Canara Bank, along with 13 other major commercial banks of India, on 19 July 1969. Karkala Pulkeri Janardhan Prabhu (KPJ Prabhu) served as chairman of the Bank post nationalisation of the Canara bank in 1969 by Government of India.In 1976, Canara Bank inaugurated its 1000th branch. In 1985, Canara Bank acquired Lakshmi Commercial Bank in a rescue.

"No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorize your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

This is to notify that as per SEBI circular no SEBI/HO/MIRSD/DOP/CIR/P/2018/113, We will receive/made payment from/to clients strictly by account payee crossed cheques/DD or by way of direct credit into the bank account through NEFT or any other mode permitted by the RBI. No cash will be accepted directly or by way of cash deposit in our bank account

Canara Bank savings account holders can stay updated with the balance in their savings account with the help of mini statement. To get Canara Bank mini statement using missed call banking or mobile banking app, the account holder needs to register the mobile number with the bank to request for the mini statement via SMS. One can also get it through Canara Bank net banking.

This is an electronic passbook mobile app provided by Canara Bank. You can download this app from Google Playstore or Apple App Store. The bank charges no fee for using this app. You can get the mini statement using the Canara e-Passbook app by following the steps mentioned below:

To register yourself for Canara Bank mobile banking services which include missed call service, SMS service, mobile and internet banking, you will have to visit the bank branch and start the registration process. You can also register by using the Canara Bank mini statement facility available on the mobile app.

Canara Bank 's (Canara) Baa3 long-term local- and foreign-currency bank deposit ratings reflect improvements in the bank's operating environment and its credit metrics. Our assumption of a very high level of government support to the bank in times of need leads to a three-notch uplift for Canara's deposit ratings to Baa3 from its ba3 Baseline Credit Assessment (BCA).

We expect Canara's asset quality to improve gradually over the next 12-18 months, which will translate into higher profit. Its gross nonperforming loan (NPL) ratio declined significantly to 4.8% as of the end of September 2023 from the peak of 11.9% as of 31 March 2018. Capital will be modest but stable because internal capital generation supports asset growth. The bank's credit strengths lie in its funding and liquidity, backed by its public sector bank (PSB) status and extensive branch network in India (Baa3, stable).

Canara bank has always been a forerunner in providing the best in banking practices to its valued patrons.We have always believed in adding value to give an enriched banking experience to all.Canara Rewardz is the loyalty program initiated by Canara Bank for its Debit and Credit Card holders.

A bank statement is an important document that contains the banking information of the account holder. It's a good approach to keep track of your recent and previous transactions and maintain accountability.

Canara Bank Mini statement services (the latest five transactions) are provided by Canara Bank and are accessible via mobile phones. You would not have to go to the bank to access the services; instead, you can use a mobile device.

Canara Bank introduced a WhatsApp banking channel, which offers 18 services to customers such as balance enquiry, mini statement, account opening, and deposit opening, by sending a Hi/Hello message on 9076030001.

Students may note that the bank which is sanctioning the education loan needs to upload the claim of interest subsidy in the portal maintained by the Canara bank for this purpose. The interest subsidy is credited directly to the loan account of the student by DBT mode using PFMS gateway. One can visit _page.aspx?othlink=375 for more information.

The "Credit Guarantee Fund Scheme for Education Loans (CGFSEL)" was notified on 16.09.2015. Under the CGFSEL, Central Government gives guarantee for the education loans availed by students without any collateral security and third-party guarantee for a maximum loan limit of Rs. 7.5 Lakh. The Fund provides guarantee cover to the extent of 75% of the amount in default through the National Credit Guarantee Trustee Company Ltd. (NCGTC), the Trustee of the Department for this purpose. For more information related to CGFSEL, please visit -n-services/cgfsel. The necessary paperwork for availing of the credit guarantee by the student is to be done by the bank who is sanctioning the education loan to the student.

Mumbai: India's Canara Bank is likely to raise funds through the issuance of Basel III compliant additional Tier I perpetual bonds this month, which would be its first such issue in more than a year, three merchant bankers said on Friday. 2351a5e196