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The Government of India nationalised Canara Bank, along with 13 other major commercial banks in India, on 19 July 1969. Karkala Pulkeri Janardhan Prabhu (KPJ Prabhu) served as chairman of the bank post nationalisation. In 1976, Canara Bank inaugurated its 1000th branch. In 1985, Canara Bank acquired Lakshmi Commercial Bank in a rescue.
In the fiscal year 2005-06, Canara Bank became India's second-largest public sector bank in terms of advances and deposits. The bank changed its name to Canara Bank Limited in 1910 when it incorporated. [5] In 2002-03, the bank went in for its Initial Public Offer and raised Rs.110 crores. [2] The India government holds a 73% stake in Canara Bank.
At the time of its establishment, the bank was known as Canara Industrial and Banking Syndicate Limited. The bank, along with 13 major commercial banks of India, was nationalised on 19 July 1969, by the government of India. It was headquartered in the university town of Manipal, India. On 1 April 2020, the bank was merged into Canara Bank.
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, 6 PBs, 43 RRBs, and 2 LABs.
The Karnataka Vikasa Grameena Bank (KVGB) is an Indian Regional Rural Bank sponsored by Canara Bank. It is under the ownership of the Ministry of Finance , Government of India . The bank provides retail banking services to rural users and has 629 branches in North and Western Karnataka .
For decades, federal immigration agents generally avoided conducting enforcement sweeps or detentions at or near what the federal government deemed "sensitive" areas, including schools and ...
Vijaya Bank and Dena Bank were merged into Bank of Baroda in 2018. [6] IDBI Bank was categorised as a private bank with effect from January 2019 on account of LIC acquiring the shares from GoI. [7] On 30 August 2019, Minister of Finance Nirmala Sitharaman announced the government's plan for further consolidation of public sector banks. The ...
The bank was permitted to carry all kinds of banking business and provided banking services to individuals and small businesses. It was a Scheduled Bank jointly owned by Government of India, Canara Bank and Government of Karnataka (share capital contributed in the ratio of 50:35:15 respectively). The bank was permitted to carry all kinds of ...