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Canara Bank is an Indian public sector bank based in Bangalore, India. ... Dubai and New York. [3] History. Logo at Head Office of Canara Bank,Bengaluru.
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.
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 .
As part of the Central Bank Digital Currency pilot project, Canara Bank has released the Unified Payments Interface compatible digital rupee mobile app. Without the need for a separate on-boarding procedure for CBDC for retailers, it will enable users to scan the existing UPI QR code and make payments using digital rupee.
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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.
Canara HSBC Life Insurance is an Indian life insurance company, headquartered in Gurugram. [5] Established in 2008, Canara HSBC Life Insurance [6] was a joint venture between Canara Bank (51%), HSBC Insurance (Asia Pacific) Holdings Limited (26%) and Punjab National Bank (23%). On 15 June 2022, the company renamed itself as Canara HSBC Life ...
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).