The Bank is a Government of India undertaking, and carries on all
banking business. The Bank was brought into existence by an ordinance
passed on the 19th July 1969 by the Central Government. In terms of
the ordinance the undertaking of the Canara Bank Ltd was vested to
transferred to the new bank. This ordinance was replaced by the
Banking Companies (Acquisition and Transfer of Undertaking) Act,
1969. This Act was declared null & void by the Supreme Court on the
10th of February 1970 and subsequently the Ordinance was promulgated.
Then the Banking Companies(Acquisition and Transfer of Undertaking)
Act, 1970 was passed and it was made effective retrospectively from
19th July 1969.
2000 - Canara Bank became the first public sector bank to join the
MasterCard ATM network.
- Canara Bank has launched its gold deposit scheme in
offering 3-3.5 per cent interest on the deposits.
- The Canara Bank and Bank of India have envinced interest
provide loan to the Rs 6,500 crore joint venture Bharat
Refineries project in Madhya Pradesh.
- Public Sector Canara Bank has hiked prime lending rate
to 12.25 per cent from 11.75 per cent and 12 per cent
respectively with effect from 10th August.
- The Bank came up with a vanilla bonds issue of Rs 300
increase the tier-II capital before september 30.
- Bangalore - based Canara Bank has set up four corporate
in Bangalore, Mumbai, Delhi and Chennai and is likely
to covert more branches
for specialised services.
- Canara Bank, the 100 per cent government-owned public
sector bank will be
roping in an overseas joint venture partner for its
mutual fund subsidiary in the
next three months.
- Canara Bank has entered into an agreement with the Al
Mirza group in Oman for
opening an exchange house that will be managed by
officers deputed by the bank.
- Canara Bank will introduce its voluntary retirement
scheme on January 1, 2001.
- Canbank Factors Ltd., a subsidiary of Canara Bank, has
launched its export-factoring
activity and has appointed GE Capital International
Finance, SPA as is import factor.
2001 - Canbank Factors Ltd., a subsidiary of Canara Bank, has opened
its eighth branch in
- The Public Sector Canara Bank has entered into an
arrangement with the Infrastructure
Development Finance Company for financing core sector
- Canara Bank has named RV Shastri as its new chairman and
-Drops plan to bring in a joint venture partner in its proposed
credit card subsidiary
-Canbank Computer Services Ltd, a subsidiary of Canara Bank, awarded
the revised ISO certification, ISO 9001:2000, by BVQI
-Launches Laghu Udhyami Credit Card to give its small borrowers
-Reduces interest rates on NRE and domestic term deposits
-Launches 3 ATMs at Nanganallur, Annanagar and Valmikinagar of Tamil
-Reduces interest on housing loan
-Slashes Prime Lending Rate to 11.5% from 11.75%
-Eight Regional Rural Banks (RRBs) sponsored by Canara Bank report
total business of Rs 4,030 crore
-Hands over dividend of Rs 80 crore to the Union Government
-Reduces its equity capital to Rs 300 crore
-Returns 48 per cent (Rs 277.87 crore) of its capital of Rs 577.87
crore to Central Government
-Launches 'Anywhere Banking' facility in Hyderabad making it the
fifth city in the country to have
the facility in addition to Bangalore, Mumbai, Delhi, Kolkata &
-Comes out with public issue of 110,000,000 equity shares of Rs 10
each at a premium of Rs 25 per share aggregating Rs 385 crore
-SBI and Canara Bank tie up to kick off full fledged operations in
-Launches a new credit scheme to encourage solar home lighting
systems in Karnataka with assistance from the United Nations
Environment Programme (UNEP)
-Ties up with Aviva Life Insurance Company to act as Corporate Agent
for selling the Life Insurance products of AVIVA without risk
-Aviva Life Insurance launches sale of its products through Canara
-Issues Tier II Capital (Unsecured Redeemable Non-Convertible
Subordinated Bonds) aggregating Rs 400 crore
-Launches a floating rate deposit scheme (FRDS) for high networth
-Raises Rs 500 cr via Tier II bonds
-Strikes a structured deal with Central Board of Trustees (CBoT) to
privately place its tier-2 bond issue for Rs 250 crore at 7.25 per
-Canara Bank Regional Rural Banks witness 16 % growth for 2002-03
-Adds seven more ATMs in Kerala
-Tops the recovery list of Non Performing Assets (NPA) among
-Reduces interest rates by 2 pc for SSI loans
-Ties up with Mahindra & Mahindra for tractor financing
-Canara Bank, Central Bank of India (CBI), Indian Overseas Bank
(IOB), UCO Bank and Union Bank of India (UBI) form an alliance to
launch `Cash Online' ATM network
-Eicher Tractors sign MoU with Canara Bank for providing financing
solution to farmers buying Eicher Tractors and other farm implements
-- Canara Bank along withCentral Bank of India (CBI) , Indian
Overseas Bank (IOB), UCO Bank and Union Bank of India (UBI) have
formed an alliance to launch `Cash Online' ATM network
-Canara Bank has signed a memorandum of understanding (MoU) with the
Small Industries Development Bank of India (SIDBI) for co-financing
small-scale industries, service sector and for undertaking related
-Canara Bank unveils special loan scheme for women
-Canara Bank raises Rs.250 crore Tier-II capital
-Central Government nominates Smt Supriya Pattnaik, General Manager,
Reserve Bank of India, as a Director on the Board of Directors of the
Bank with immediate effect in place of Shri C S Murthy
-Canara Bank & Bank of India acquire 4% stake in Mercator Lines
-Canara Bank enters into strategic tie-up with Western Union and its
primary agent AFL WIZ
-Introduces a loan scheme for individuals to subscribe to initial
public offers at five cities - Bangalore, Chennai, Kolkata, Delhi and
Mumbai - with an aim to cater to the needs of retail investors
-Canara Bank opens its first Mahila Banking Branch in Kerala
-Canara Bank announced the launch of `E-kisan credit card', an ATM
enabled card for farmers
-Canara Bank has launched a loan scheme for the medical fraternity -
Doctor's Choice - in Bangalore
- Canara Bank unveils 2 new ATMs in Thiruvananthapuram
- Canara Bank ties up with BAL for auto finance
-Canara Bank unveils new ATM in Hayatnagar
-Canara Bank unveils new branch in Udupi
- Canara Bank signs a Memorandum of Understanding (MoU) with M/s
Tractor & Farm Equipment Manufacturers Ltd (TAFE).
-Canara Bank has announced the launch of a housing loan scheme
designed exclusively for the employees of the Kerala Water Authority
-Canara Bank has entered into a franchise agreement with Western
Union Financial Services for money transfer facility
-Canara Bank has launched a 'gold card' scheme for exporters, under
which it will offer a three-year credit period with an automatic
renewal clause, and with competitive interest and charges
-Canara Bank, one of the premier Banks in the country has signed a
Memorandum of Understanding (MoU) with M/s Kerala Agro Machinery
Corporation Limited (KAMCO), one of the largest manufacturers of
-Canara Bank, one of the premier Banks in the country has signed a
Memorandum of Understanding (MoU) with M/s Plastro Plasson Industries
(India) Ltd, one of the leading Companies which specializes in
manufacturing of micro-irrigation equipments and also undertakes
projects on turnkey basis, for financing of micro-irrigation
equipments to farmers
-Canara Bank and HDFC Mutual Fund on August 12 signed an agreement
for the bank to distribute HDFC's MF products through its network
-Canara Bank has informed that the Bank vide agreement dated August
12, 2004 with HDFC Asset Management Company Ltd has entered into a
strategic alliance for cross selling of the schemes/products of HDFC
Mutual Fund, launched from time to time
-Canara Bank, TVS Motor rolls out TVS Canmobile
-Canara Bank forges alliance with New Holland Tractors
-Al Razouki partners with Canara Bank
-Canara Bank launches new schemes 'Cantravel', 'Cantech'
-Canara Bank signs agreement with Russian Bank
- On January 3, 2004, launches multi-point interactive video
conferencing as a means to review the performances of its circles
from its headquarters in Bangalore.
-Canara Bank inks bancassurance pact with United India Insurance Co
-Canara Bank signs MoU with NCMSL
-Canfin Homes launches three new loan products
-Canara Bank appoints Shri M B N Rao as Chairman & Managing Director
(CMD) up to June 30, 2008
-Canara Bank sets up ATM
-Canara Bank begins operation in Shanghai on August 08,2005.
-Canara Bank tied up with i-flex Solutions for core-banking project
and IBM will be the systems integration partner.
-Canara Bank joins hand with Dakshina Kannada milk co-op
-Canara Bank has signed a memorandum of understanding (MoU) with Tata
BP Solar India Ltd, to extend a soft loan for the purchase of water
-Canara Bank has informed that in exercise of the powers conferred by
clause (b) of sub-section (3) of section 9 of the Banking Companies
(Acquisition and transfer of Undertakings) Act, 1970 / 1980 read with
sub clause (1) of clause 3 of the Nationalized Banks (Management and
Miscellaneous Provisions) Scheme, 1970 / 1980, the Central
Government, nominated Shri Amitabh Verma, Joint Secretary (BOA),
Ministry of Finance Banking Division, as a Director of the Bank in
the place of Shri G C Chaturvedi, vide notification Dated October 31,
2006, with immediate effect and until further orders.
-Retained Number One Position in Aggregate Business among
-Signed MoUs for Commissioning Two JVs in Insurance and Asset
Management with international majors viz., HSBC
-(Asia Pacific) Holding and Robeco Groep N.V respectively
- Canara Bank has inked a memorandum of understanding with the ICRA
Ltd for credit rating small and medium enterprises. The MoU will
facilitate extending comprehensive rating services to all the bank's
SME customers. This was especially since Canara Bank was aiming to
expand its advances to the sector.
-Canara Bank has appointed Shri. Alok Kumar Misra, Executive Director
of the Bank as Chairman & Managing Director of Oriental Bank of
Commerce by the Government of India, Ministry of Finance, Department
of Economic Affairs, Banking Division, vide its Notification dated
June 04, 2007.
- Canara Bank has appointed Shri D L Rawal, General Manager, Punjab
National Bank, as a whole time director (designated as the Executive
Director) of the Bank from the date of his taking charge i.e. from
June 06, 2007 and until further orders or till the date of his
superannuation i.e. upto October 31, 2011, vide notification dated
June 06, 2007.
- Canara Bank has rolled out two new schemes for their High Networth
Individuals - SB Gold (Savings Bank) and Can-Premium Current Account.
The schemes offer various services like free debit and credit cards,
anywhere banking facility, internet and mobile banking facility with
free funds transfer, telebanking and issue of demand drafts at
concessional charges, among others. SB Gold scheme, which was first
launched in Bangalore last year, has been extended to the bank's
customers across the country.
- Canara Bank, HSBC Insurance (Asia-Pacific) Holdings and Oriental
Bank of Commerce have formally signed agreement to jointly establish
life insurance company in India.
- Canara Bank announced a 0.50 per cent cut in floating interest
rates on home loans, indicating easing cost of funds that prompted
segment leader HDFC too to rollback rates last week.
- Canara Bank has informed that in exercise of the powers conferred
by clause (e) Sub-Section 3 of Section 9 of the Banking Companies
(Acquisition and Transfer of Undertakings) Act, 1970, read with sub-
clause (2)(a) of clause 9 of the Nationalized Banks (Management and
Miscellaneous Provisions) Scheme, 1970, the Central Government has
appointed Shri. Devender Dass Rustagi, Special Assistant, Canara
Bank, Recovery Section, Circle Office, Nehru Place, New Delhi as
Workmen Employee Director on the Board of Directors of Canara Bank,
vide Notification dated September 15, 2008, for a period of three
years from the date of Notification or until further orders whichever
-The Bank crossed the coveted Rs. 3 lakh crore in aggregate business
-The Bank’s 3rd foreign branch at Shanghai commissioned
- Canara Bank has appointed Shri. Jagdish Pai K L, General Manager,
Bank of India as a whole time director (designated as Executive
Director) of Canara Bank with effect from the date of his taking over
charge and up to June 30, 2011 i.e. the date of his superannuation or
until further orders, whichever is earlier, vide notification dated
February 04, 2009.
- Canara Bank has entered into an alliance with Hyundai Motor India
Ltd to finance the passenger vehicles manufactured by the company.
The bank will extend the finance facility to the buyers through its
branches across the country as well as through the 251 Hyundai
- Canara Bank has informed BSE that in exercise of the powers
conferred by clause (a) of sub-section (3) of section 9 of the
Banking Companies (Acquisition and Transfer of Undertakings) Act,
1970/1980, read with sub-clause (1) of clause 3, sub-clause (1)
clause 8 of the Nationalized Banks (Management and Miscellaneous
Provisions) Scheme, 1970/1980, the Central Government, after
consultation with the Reserve Bank of India, has appoints Shri. H S U
Kamath, General Manager Union Bank of India as a whole time director
(designated as Executive Director) of Canara Bank with effect from
the date of his taking over charge and up to December 31, 2013 i.e.,
the date of his superannuation or until further orders, whichever is
earlier, vide notification dated March 26, 2009.
He has taken
charge as Executive Director of the Bank w.e.f. March 26, 2009.
- Canara Bank has has appointed the following six audit firms as
Statutory Central Auditors of the Bank for the year 2009-10:
1. M/s. M Anandam & Co., Chartered Accountants, Secunderabad.2. M/s.
N Sankaran & Co., Chartered Accountants, Chennai.3. M/s. S Bhandari &
Co., Chartered Accountants, Jaipur.4. M/s. Manubhai & Co., Chartered
Accountants, Ahmedabad.5. M/s. R K Kumar & Co., Chartered
Accountants, Chennai.6. M/s. Nandy Halders & Ganguly, Chartered
Accountants, Kolkata.Out of the above, the first two firms are
continuing Statutory Central Auditors, while the remaining firms have
been appointed in place of M/s. S N Mukherji & Co.,, M/s. De
Chakraborty & Sen, M/s. Satyanarayana & Co., and M/s. Parakh & Co.,
who have completed their term.
- Canara Bank has nominated Shri Khalid Luqman Bilgrami as part-time
non-official Director under Chartered Accountant category, on the
Board of Directors of Canara Bank.
-Canara Bank Q4 net up 79% at Rs 898 cr
-Canara Bank raises 0 mn via bonds(India’s state-owned
Canara Bank on March 3 priced its inaugural senior international bond
transaction amounting to USD350 million, taking advantage of a window
-Canara Bank raises Rs 2,000 cr in share sale
-Total number of branches reached 3600. The Bank’s 5th foreign branch
at Manama, Bahrain opened.
-The total business of the Bank stood at 552513 crore.