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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 ...
Kerala Bank wrote off loans availed from its Mundakkai and Chooralmala branch by the victims and survivors worth ₹ 29 crore (US$3.4 million). [ 178 ] [ 179 ] V. D. Satheesan , Leader of opposition in the Kerala assembly, pledged bear the life-long expenses of a young survivor who lost her entire family. [ 180 ]
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India’s commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.
The nationalised banks reported a combined loss of ₹1160 crores. However, the early 2000s saw a reversal of this trend, such that in 2002-03 a profit of ₹7780 crores by the public sector banks: a trend that continued throughout the decade, with a ₹16856 crore profit in 2008–2009. [3]
Regional rural banks (RRBs) are government owned scheduled commercial banks of India that operate at the regional level in different states of India.These banks are under the ownership of the Ministry of Finance, Government of India, Sponsored Bank and concerned State Government in the ratio of 50:35:15 respectively.
During 2012–13, the contribution of Visakhapatnam was ₹ 1,445 crore (US$170 million) while it was ₹ 115.26 crore (US$13 million) for Vijayawada. This is a chart of trend of gross state domestic product of Andhra Pradesh at market prices by Ministry of Statistics and Programme Implementation with figures in crores of Indian Rupees.
Canara Bank, a leading nationalised public sector bank, donated ₹ 5.01 crore (US$732,568.6) towards Kerala Chief Minister's Disaster Relief Fund. Besides this, 10 tonnes of rice packets were also donated under CSR .
All four amalgamated RRBs were sponsored by Syndicate Bank(Now Canara Bank) and were located in Karnataka. At the time of amalgamation in 2005, the bank’s business was Rs. 23,263.73 Crore. It was named the Karnataka Vikasa Grameena Bank. Its head office is at Dharwad. It is functioning under the sponsorship of Syndicate Bank (now Canara Bank).