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Canara Bank |
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Canara Bank is a state-owned financial services company in India. It was established in 1906, making it one of the oldest banks in the country. As on 2009 November, the bank had a network of 3057 branches, spread across India. Canara Bank also has offices abroad in London, Hong Kong, Moscow, Shanghai, Doha, and Dubai. |
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Canara Bank is one of 20 major nationalised commercial banks in India. Nationalised banks dominate the banking system in India. The major objective behind nationalisation was to spread banking infrastructure in rural areas and make cheap finance available to Indian farmers. With this, the Government of India held a control over 91% of the banking industry in India. After the nationalisation of banks there was a huge jump in the deposits and advances with the banks. |
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