Canara bank with 3057 branches and over 2000 ATMs, catering to all segments of an ever growing clientele base of over 37.5 million.
A bank is a financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money. It is an institution for receiving, keeping, and lending money.
Canara Bank, Head Office, Bangalore
The Narasimham Committee laid the foundation for the reformation of the Indian banking sector.Constituted in 1991, the Committee submitted two reports, in 1992 and 1998, which laid significant thrust on enhancing the efficiency and viability of the banking sector.
You just say, “Job Security and Job in Canara bank is a privilege and it is a service to nation”
Nationalization in the year 1969
Mainly the functions of RBI are classified as follows:
SLR – Statutory liquidity ratio
CRR – Cash reserve ratio
Repo rate – It is the rate at which RBI lends money to Banks.
Reverse Repo Rate – It is the rate at which Banks park their funds with RBI
Bank Rate – It is the rate at which RBI lends money to Banks.
Call money rate – It is the rate of interest charged by the banks for temporary borrows among banks Ledger
Tender Money – Currency issued by RBI Optional Money – Cheques, DDs, Bankers Cheques
Plastic Money – Credit card, Debit card Credit card is ready made overdraft in e-form for buying goods and services by the card holder within specified limits and according to terms and conditions of the issuer Bank without having any account. Debit card is e-Cheque which can be used within the limits of the credit in the account associated with it for financial tractions.
Core Banking – Networking of Banks for providing any where any time Banking is called Core Banking.
“Global Bank with Best Practices”
Initially the name was ‘Canara Bank Hindu Permanent Fund’Later changed as ‘Canara Bank Ltd.’ in 1910 and became Canara Bank in 1969 after nationalization.
The primary functions of a commercial bank include:
a) accepting deposits; and
b) granting lo and advances
Mr S Raman
A Bank rate is the interest rate that is charged by a country’s central or federal bank on lo and advances to control money supply in the economy and the banking sector. This is typically done on a quarterly basis to control inflation and stabilize the country’s exchange rates. A fluctuation in bank rates triggers a ripple-effect as it impacts every sphere of a country’s economy. For instance, the prices in stock markets tend to react to interest rate changes. A change in bank rates affects customers as it influences prime interest rates for personal lo.
Inflation is increase in price of products & decrease in value of money.
Whenever the banks have any shortage of funds they can borrow it from the central bank. Repo rate is the rate at which our banks borrow currency from the central bank. A reduction in the repo rate will help banks to get Money at a cheaper rate. When the repo rate increases borrowing from the central bank becomes more expensive.The Reverse repo rate is the rate at which the central bank borrows from the banks, while the Repo rate is the rate at which the banks borrow from the central bank.
July 1906, at Mangalore
The Main difference between Repo rate and Bank rate is that Repo rate is the discounting offered by the RBI on the monetary bill hold by the Banks