Canara Bank – Review and Features

India is one of the largest economies in the world and one can well visualize the importance of banking services in a promptly developing economy like India. The country’s banking sector saw a wide evolution after the entry of private banking and financial service companies in it because their entry suddenly elevated the level of services and created an overall improvement in the sector. Canara Bank is the bank of India which is undertaken by the government of India.in the city of Bangalore, the headquarters of the Canara bank is located. The bank was established in the year of 1906 in the city of Mangalore, assembling it as one of the ancient bank of India.

Canara bank is widely known for customer centricity. The bank has undergone various phases of its growth flight over hundred years of its existence. Currently, Canara Bank lodges a leading position in the comity of Indian banks.

Milestones:

Canara Bank has several leadings to its credit, these firsts include:

  • Canara Bank was the first to launch Inter-City ATM Network.
  • The bank is widely known for Articulation of ‘Good Banking’ – Bank’s Citizen Charter.
  • The Canara Bank is also famous for Providing Agricultural Consultancy Services for the first time in India.
  • The bank is very privileged to Issue credit cards for farmers for the very first time in the Country.
  • The Canara Bank is credited for Commissioning of Exclusive Mahila Banking Branch in India.
  • Canara bank has a network of 5705 branches all over the India.
  • The Bank has a wide spread chain of more than 9039 ATMs across India.
  • In countries like London, Shanghai, Doha, Dubai, Hong Kong, Moscow, and New York, the bank Canara also have numerous branches out there.

Not just in commercial banking, the Bank has also engraved a characteristic mark, in various communal social responsibilities, namely, enhancing rural self-employment through several training institutes and spearheading financial inclusion objective, serving national priorities and in promoting rural development.

The Canara Bank intensely believe that the next century is going to be likewise rewarding and exciting not only in service of the nation but also in helping the Bank emerge as a most Preferred Bank by tracking global standards in productivity, asset quality, risk management, operational effectiveness, and increasing the global spread.

Products:

Several IT ingenuities were undertaken during the year of 2015 by the bank of Canara. The Bank set up 147 hi-tech E-lounges in select branches which were equipped with the facilities like ATM, Self-Printing Passbook Kiosk, Internet Banking Terminal, Online Trading Terminal, Cash Deposit Kiosk with voice guided system, Cheque Deposit Kiosk and Corporate Website Access.

The Bank also launched Canara Bank RuPay Debit Card, Canara Club Card – Debit, Canara Secured Credit Card, Platinum Rupay Card and EMV Chip Cards under debit and credit cards. Online Savings Bank, Canara Elite Debit Card, Canara Bank Platinum Rupay Card and PPF account opening were introduced during the year. The Bank also made several value addition services through internet banking and mobile banking services for the ease of its clients and customers.

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