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Canara Bank has now stopped opting for ISO certification of branches. On 30 August 2019, Finance Minister Nirmala Sitharaman announced that Syndicate Bank would be merged with Canara Bank . The proposed merger would create the fourth largest public sector bank in the country with total business of ₹ 15.20 lakh crore (US$180 billion) and ...
It has grown since then and now has 2542 branches in India and one overseas branch in London. [4] 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]
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.
It has a network of 113 branches, including service branches, spread across the undivided district of South Canara. The bank offers a wide range of banking products and services to its customers, including savings accounts, current accounts, fixed deposits, loans, and insurance produmagazine. [3]
By March 2015, the bank had opened 3552 branches. [15] On 30 August 2019, Finance Minister Nirmala Sitharaman announced that Syndicate Bank would be merged with Canara Bank. The proposed merger would create the fourth largest public sector bank in the country with assets of ₹ 15.20 lakh crore (US$180 billion) and 10,324 branches.
The branches of the following banks are present; Punjab National bank, Punjab & Sind Bank, Allahabad Bank, United Bank of India, Canara Bank (Shakuntala Park branch located at Ketopole), State Bank of India (Shibrampur branch located at Ketopole), and Axis Bank (Shakuntala Park branch located at Shibrampur).
Like other RRBs, Government of India holds the majority 50 percent shares, while the state government and Canara Bank holds 35 percent and 15 percent, respectively. As of 2013, KGB had 504 branches and a total net worth of ₹471.58 crore and deposits of ₹7,266 crore and advances of ₹7,761 crore, with a total business of ₹15,027 crore. [1 ...