Public Sector Banks of India: Canara Bank: MD/CEO, HQ & Taglines

By Amrit Gouda|Updated : February 28th, 2022

Canara Bank full detail: In this part of the series 'Know All About The Public Sector Banks of India', we are going to discuss the History, Merger, Subsidiaries, and many other interesting facts about the Canara Bank. If you want to know about the Chairman, CEO & MD, Headquarters (HQ), tagline, etc of Canara Bank, then keep reading the article to find out. This article will help you prepare for various Bank Examinations such as SBI PO, IBPS PO, SBI Clerk, IBPS Clerk, RRB Officers, etc. 

Canara Bank started as a limited company with a capital of Rs. 1,00,000 and with just 4 employees. Today, It has become one of the major Governments of India undertaking with a network of more than 6100 domestic branches and 8 foreign branches. Now, let's discuss the History, Merger, and all other interesting facts about Canara Bank in detail:

Table of Content

History of Canara Bank

  • Canara Bank is founded as Canara Bank Hindu Permanent Fund on 1st July 1906 by Ammembal Subba Rao in Mangalore, Karnataka
  • Canara Bank converted into a limited company i.e. Canara Bank Ltd in 1910.
  • Canara Bank, along with 13 other major banks was nationalized on 19 July 1969. A nationalized bank is a bank in which Govt. of India holds a stake of 51% or higher. 
  • In FY 1992-93, the bank became the first Bank to articulate and adopt the directive principles of “Good Banking”.
  • In FY 2001-02, the bank opened a 'Mahila Banking Branch' in Banglore, for catering exclusively to the financial requirements of Women.

You can practice the most expected questions in the RBI Assistant Test series of BYJU'S Exam Prep's Bank Test series.

Banks Merger with Canara Bank

  • With effects from 1 April 2020, Canara Bank merged with Syndicate Bank. The combined entity has become the 4th largest PSB (Public Sector Bank) bank by assets.
  • After amalgamation, the bank has a network of 10,391 branches, 12,829 ATMs. 

To watch concept classes and chapter-wise sessions by exam-qualified experts, you can try our RBI Assistant Online Coaching.

Headquarter, BOD & Tagline of Canara Bank

Details of Canara Bank HQ, CEO & Tagline
HeadquarterBanglore, Karnataka
Circles 21
MD & CEOL V Prabhakar
TaglineTogether We Can

Logo of Canara Bank

Before the Merger:

byjusexamprep

After the Merger:

byjusexamprep

Meaning of the logo of Canara Bank

The two triangles in the logo of Canara Bank represent the bond between the bank and its customers. With the logo, the bank symbolically conveys the message 'Together we can'. 

Subsidiaries of Canara Bank

The following is the list of Canara Bank's Subsidiaries:

  1. Canbank Financial Services Limited
  2. Canara Robeco Asset Management Company Limited
  3. Canbank Computer Services Limited
  4. Canara Bank Securities Limited
  5. Can Fin Homes Limited
  6. Canbank Factors Limited
  7. Canbank Venture Capital Fund Limited
  8. Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited

Canara Bank's Awards and Achievements

  • International Brand Consulting Corporation, USA:
    • Winner of ‘India’s Most Trusted Public Sector Banking Services Company 2019’  
  • SIDBI-ET INDIA MSE AWARD-2019:
    • Winner under Lender to MSE Category – PSB
  • Annual Credit Information Conference 2019
    • Winner under the category Best Data Quality Management
  • DAY-NRLM, Ministry of Rural Development - 2019
    • National award for SHG Bank Linkage 2018-19 (PSB)

Canara Bank Interest Rates

Type Interest
DOMESTIC/NRO/NRE SAVINGS BANK DEPOSITS - W.E.F. 01.05.2020
  • For outstanding balances of Less than Rs. 50 lakh - 3.00%

  • For outstanding balances of Rs. 50 lakh and above - 3.00%

Facts about Canara Bank

  • Canara Bank has 8 overseas branches. They are 
    • London
    • Hong Kong
    • Johannesburg
    • New York
    • Dubai
    • Sharjah
    • Moscow - (Commercial Indo Bank LLC - JV with SBI)
    • Tanzania - (Canara Bank (Tanzania) Ltd. - Wholly Owned Subsidiary)
  • Canara Bank has a 'Mahila Banking Branch' in Banglore and Chennai.
  • CANDI - A Digital Banking Branch - It is equipped with fully automated facilities and robotic assistance for customers to provide banking services. 
  • Canara Sathi - It is a chatbot that solves the queries of customers about Banking products. 
  • CANDI Mobile Banking - A mobile app that provides many Banking Facilities such as A/c opening, Loan repayments, RIGS, NEFT, etc. under 'One Bank One App' Programme.
  • Canara DiYA (Digitally Your Account) - Under this facility, a customer can open an Instant savings account. The customer gets a period of I year to complete Full KYC. 

Recent News:

  • In May, Canara bank has launched the special gold loan campaign at an interest rate of 7.85% per annum. The campaign will continue till 30 June 2020.
  • In April, Mrutyunjay Mahapatra (CEO of Syndicate Bank) has been appointed as the Officer on Special Duty in Canara Bank.
  • In March, Canara HSBC Oriental Bank of Commerce Life Insurance Company has launched a life insurance and terminal illness cover called iSelect Term Plan.

So, Guys, this is all about the history, facts, and recent news about the Canara Bank. We have tried to cover all the static information about the bank, which is relevant to the Bank Exam. We hope that you liked the article. For more articles like this on the other Indian States, stay tuned with us.

You may also like to read the following articles:

Most of our readers ask for PDF versions of our articles, so we have decided to provide the PDF version of most of the articles from now on.

Download PDF version of this article 

This PDF can be helpful for the following exams:

S. No.

Name of the exam

1

SBI Clerk

2

 SBI PO

3

IBPS Clerk

4

IBPS PO

5

 IBPS RRB

6

RBI Assistant

7

 RBI Grade-B

8

 NABARD Grade-A

10

 SBI Apprentice

12

 LIC AAO

If you are aiming to crack SBI PO/IBPS PO 2022, then join the sure-shot success Batch Online Classroom Program where you will get:

  • Live Courses by Top Faculty
  • Daily Study Plan 
  • Comprehensive Study Material 
  • Latest Pattern Test Series 
  • Complete Doubt Resolution 
  • Regular Assessments with Report Card

byjusexamprep

Click here to access Test Series

Why BYJU'S Exam Prep Test Series?

  • Get better at every level of your preparation with unlimited test series, based on the latest exam pattern. 
  • Assess areas of weaknesses & track improvements with in-depth performance analysis

Download the BYJU’S Exam Prep App Now. 

The most comprehensive exam prep app.

#DreamStriveSucceed

Comments

write a comment

FAQs

  • The current MD & CEO of Canara Bank is L.V Prabhakar.

  • The Headquarters of Canara Bank is located in Bengaluru.

  • The tagline of Canara Bank is "Together we can".

  • Canara Bank is founded as Canara Bank Hindu Permanent Fund on 1st July 1906 by Ammembal Subba Rao in Mangalore, Karnataka. 

PO, Clerk, SO, Insurance

BankingIBPS POIBPS ClerkSBI POIBPS SOSBI ClerkRBIIDBI SOIBPS RRBLICESICNainital BankOtherQuick LinkMock Test

Follow us for latest updates