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• Canara Bank

Canara Bank

Canara Bank is the brain child of the Late Sri Ammembal Subbarao Pai and started in Mangalore, and he wanted to transform this institution to assist people financially and leave a social impact. The bank has come a long way in offering services like, Loans, Line of Credit, Export Finances, Project finance, Current Accounts, Account Creation, Credit Card, Insurance, Online Banking and after nationalisation of bank in 2006, it completed 100 years of formation.

History of Canara Bank

Canara Bank was established by Shri Ammembal Subba Rao Pai, a great social reformer, philosopher and an amazing reformist of the 19th Century in 1906 in Mangalore, a small town of Karnataka State. After freedom from the british and the partition, the growth of the bank was stupendous after the nationalisation of the bank in 1969. The bank became a major player in the national scene and in 2006 completed 100 years of glorious service in the banking segments. 

We have an amazing network of 9734 branches and more than 12000 plus ATM that is spread across various Indian States and the Union Territories as well. The Canara Bank did an amazing job in banking and non banking segments promoting self employment, rural development with the help of financing various training establishments. 

The Chairman and the CEO of the Canara Bank is Shri Lingam Venkata Prabhakar having more than 30 plus years of rich experience in the field of banking and financial activities. He is playing a vital role in Asset managements, Digitisation of entire Canara Bank and empowering the employees and the support staffs.

Subsidiaries of Canara Bank

The Canara Bank has got many subsidiaries and they are as follows:

• Canbank Factors Limited.
• Canfin Homes Limited (CFHL).
• Canara Bank Securities Limited.
• Canbank Financial Services Limited.
• Canbank Venture Capital Fund Limited.
• Canara Robeco Asset Management Company Limited.
• Canara HSBC Oriental Life Insurance Company Limited.

Banking Services Offered by Canara Bank

The Canara Bank believes in offering various types of Banking Services and given below as follows:

• Mutual Funds.
• Savings Account.
• Current Accounts.
• Insurance Services.
• Safe Deposit Locker.
• Safe Custody Account.
• Personalised Cheques.
• IPO Monitoring Activity.
• Personalised Passbook.
• Retail Sale of the Gold Coins.
• Debit and Credit Card Services.
• Giving the Standing Instructions.
• Personal tax Assistance and Investment Counselling.

Loans and credit facilities provided by Canara Bank

  Some of the Credit facilities and the loans offered by the Canara Bank are given below as follows:

• Retail Loan.
• Housing Loan.
• Canara Vehicle.
• Business Loan.
• Education Loan.
• Corporate Loan.
• Canara Mortgage.
• Canara Site Loan.
• Loan Against Properties.
• Loan Against Securities.
• Home Improvement Loan.
• Financial Consultancy Services.
• Increasing the Credit Limit of the Credit Cards.

Legal Issues

• The UK branch of the Canara Bank was fined 1.2 million pounds by the apex financial set up of UK known as Financial Conduct Authority and they were not given any access to accept new deposits for 6 months because they were not able to comply with the Money laundering practices in the UK

Awards and Recognition

• Canara Bank obtained the APY annual award 2021-22 from PFRDA.
• Canara Bank has been awarded DSCI Excellence Awards 2021 as Winner in Security Leader of the year (BFSI).
• Canara Bank has been awarded " BEST MSME BANK OF THE YEAR at 8th MSME EXCELLENCE AWARDS BY ASSOCHAM.
• Canara Bank has been awarded DSCI Excellence Awards 2021 as Finalist in Best Security Operations Centre of the year 2021.
• Canara Bank received first prize for “Rajbhasha Kirti Award 2020-21” in September 2021 for in-house Magazine “Canara Jyothi”.
• Canara Bank won Best in House Magazine by Feather Business Solutions with Economic Times as media Partner for in-house Magazine “Shreyas”.

Canara Bank has 11221 IFSC connected branches in India. Bank has branches in following states:

ANDAMAN AND NICOBAR ISLAND
ANDHRA PRADESH
ARUNACHAL PRADESH
ASSAM
BIHAR
CHANDIGARH
CHHATTISGARH
DADRA AND NAGAR HAVELI
DAMAN AND DIU
DELHI
GOA
GUJARAT
HARYANA
HIMACHAL PRADESH
JAMMU AND KASHMIR
JHARKHAND
KARNATAKA
KERALA
LAKSHADWEEP
MADHYA PRADESH
MAHARASHTRA
MANIPUR
MEGHALAYA
MIZORAM
NAGALAND
ODISHA
PUDUCHERRY
PUNJAB
RAJASTHAN
SIKKIM
TAMIL NADU
TAMILNADU
TELANGANA
TELENGANA
TRIPURA
UTTAR PRADESH
UTTARAKHAND
WEST BENGAL