Professional Documents
Culture Documents
Canara Bank was founded in 1906 by Sri, Ammembal Subba Rao Pai. The bank was
initially named as Canara Bank Hindu Permanent Fund. It blossomed in to a limited company
in 1910 and was renamed as Canara Bank Ltd, in 1969 the bank was nationalised and
thereafter came to be known as Canara Bank.
Today Canara Bank is one of the premier Banks in the country with a network of
2,578 branches spread all over the country. The Bank has many distinctions to its name. It
was the first Bank to be conferred FICCI award for contribution to rural development Canara
Bank was the first among Banks to launch networked ATMs and obtain ISO certification.
Canara Bank has covered a niche for itself in providing IT based services with 100%
computerization of the branches .The Bank provides a wide array of services, such as
Networked ATMs Anywhere banking, Tele Banking, remote access terminals, internet and
mobile Banking, debit card etc. For the year 2004-05 Canara Bank clocked the highest net
profit (Rs1110 crore) among nationalized Banks, with significant improvement in capital
adequacy ratio (12.78%) and asset quality (net NPA ration of 1.88%).My sore Canara Bank
Regional Office (CBROM) was upgraded from Regional Office on April1998. The functions
of Circle Office have been laid down by the Bank. However, on account of changing times, a
review of these functions has been made, rather than replicating existing ones. Sections at
Regional Offices will look for policy support from Head Office. All operational and
administrative work relation to their functions shall be handled by the respective sections
within the policy parameters set out by Head Office. Mysore Canara Bank Regional Office
has a network of 111 level Branches scattered over 4 districts. Which Mysore, Mandy, C.H
nagar, Hassan. In addition to these 5 currencies chest are functioning in all four districts
catered to the cash requirements of these branches.
NATURE OF THE BUSINESS CARRIED:
Canara Bank groups principal activities are to provide a full range of Banking and
other financial services through 2,578 Branch Offices in India and Abroad. The service
includes accepting deposits, commercial and institutional credit, treasury, investment, risk
management and other related financial services. It operates through two segments. Banking
operations consist of corporate Banking. Retail Banking, personal and commercial Banking,
Cash management services, Deposits and other allied services. Treasury operations consist of
dealing in SLR and Non-SLR securities and Money Market operation.
"A good bank is not only the financial heart of the community, but also
one with an obligation of helping in every possible manner to improve the economic
conditions of the common people" - A. Subba Rao Pai.
CORPORATE VISION:
To emerge as a world class Bank with best Practices in realms of asset portfolio,
Customer orientation, product innovation, Profitability and enhanced value to stake
holders.
CORPORATE MISSION:
Efficiency
Profitability and Productivity
Organisational Effectiveness.
Customer Centric
Hi-tech Banking
DEPOSIT SCHEMES:
SAVING DEPOSIT
CURRENT DEPOSITS
FIXED DEPOSIT
It is a safe way to solid returns method. Minimum deposit should be Rs. 1000/- and
Maximum no ceiling. Period deposit is given minimum 15 days and maximum 120 months,
7-14 days period for deposit of 5 lakh and above. Interest should be pay monthly, quarterly,
half-yearly or annual intervals at depositors choice.
KAMADHENU DEPOSIT
It is high returns deposit scheme interest will be compounded every quarter. Fixed
deposit should be deposit minimum of Rs. 1000 and maximum-no ceiling.
CANFLEXI DEPOSIT
ASHRAYA DEPOSIT
This scheme is available to all individuals. Who have completed the age of 60 years
and above, in single or joint names.
RECURRING DEPOSIT
It is monthly deposit minimum to Bank Rs. 50/- per month. Interest will be
compounded every quarter.
This Savings Account scheme is available to every common man. Its initial deposits
Rs. 25/- Account can be maintained even with zero balance. Here Bank has not restriction on
number of credits, and Bank will give free ATM-cum-Debit Card facility.
It is a safe way to solid returns. A term deposit scheme under the Fixed Deposit and
Kamadhenu streams of the Bank. The benefit of Deduction is get from income upto Rs. 1
lakh under sec.80C of the INCOME TAX Act1961, for individuals only.
CANRELAX
Deposit under the scheme can be opened by individuals. Minimum deposit amount
Rs.1,00,000/- and in the multiples of Rs.10,000/- thereafter. Rate of interest will be given of
interest 0.50% over the rate applicable
PRODUCT/SERVICE PROFILE
Can budget personal loan is to fulfil only personal needs of salaried employees. This
loan facility is available to any Central/State Government Employees, Lecturers/professors of
colleges/universities/research institution.
Home Improvement loan is available to who already own homes. Loan will be giving
to house hold furniture items, air conditioners, wardrobes, kitchen cabins etc. Loan is
available along with a housing loan or even independently.
Can Mobile vehicle loan is available to purchase any vehicle. It may be new vehicle
or a used vehicle. Repayment period is given to four wheelers up to 84 months and two
wheelers upto 60 months.
4. CANARA TECH
CANTECH loan facility is available only to IT/BT professionals loans upto 6 months
gross salary with a maximum of Rs. 2 lakh. Higher quantum considered selectively.
Repayment period is given up to 56 months.
5. CANARA TRAVEL
6. CANARA RENT
CANRENT loan is available to who are owners of the property to meet their business
and personal needs.
7. CANARA MAHILA
This is an exclusive loan scheme for women who are working and non working persons are
able to get loan and fulfil their personal financial needs.
8. DOCTORS CHOICE
Doctors choice loan scheme is to fulfil the Doctor working capital and term loan
requirements. Loan is available only to qualified registered medical practitioners.
Loan is available to purchase of ready built house or flat construction of house or flat
purchase of site and construction there on, repairs and renovation and take over of the
liability from other Banks.
CANSITE loan is available to who are individuals aged upto 55 years of age at the
time availing the loan. Those people must have above 1 lakh annual income or more eligible.
This loan scheme is to meet the genuine personal needs of teaching or non teaching
staff of schools or colleges.
This loan scheme is available to pensioners for drawing their pension through Canara
Bank branches. Loans are for meeting medical expenses and other genuine personals needs.
15. CANARA TRADE
This Loan scheme is available to Traders, Whole sale and Retail business, Business
Enterprises, Commission Agents, Service sector, Professionals and self employed persons. It
is fulfil the working capital of business.
16. CANCASH
CANCASH will get when we need it without selling our blue chip portfolios, to meet
the investments/domestic/personal needs (not to be utilized for speculative purposes)
quantum upto Rs. 5 lakhs.
17.SWARNA LOAN
SWARNA LOAN is available to any individuals against Gold Jewellery to meet the
medical expenses and other unforeseen commitments/ contingencies etc.
Educational loan is available to who are needy and meritorious students for pursuing
higher education in India and Abroad, and fulfil for payment of fees to school/college and for
purchase of books, hostel fees, examination fees etc.
NRI SERVICES:
a) NRE Accounts: This is term deposit scheme. Here customers are able to get
saving, current and term deposits scheme in Indian rupees.
2. REMITTANCE FACILITIES
Canara Bank has rupee drawing arrangements with 20 exchange Companys and 18
Banks for remitting funds by NRIs working in the Middle East to India.
3. OTHER FACILITIES TO NRIs
NRIs are permitted to avail all types of retail rupee loan, international Credit Card
facility with the Bank, housing loan, financial services etc.
OTHER SERVICES:
1. DEPOSITORY SERVICES
This is the best way of holding Securities in electronic form. Purchase and sale of
securities can be through the account with very reasonable charges.
Lockers are available at select branches where Safe Deposit vaults are installed. Bank
lets on hire safe deposit lockers to individuals (singly or jointly), Firms, Companies,
Association or Clubs, Trustees on nominal rent.
Canara Bank has National Electronic Fund Transfer system at minimum charges.
5. INSURANCE
Canara Bank has Life and Non life Insurance products also.
6. SAVINGS SURAKSHA
Group insurance has been availed to who are deposit account holders of Saving Bank
Accounts and Term deposit accounts.
7. CAN-MEDICLAIM
Card holder customers are provided the convenience of accessing their accounts from
several locations like all ATMs Point of Sale Member Establishments (POS MEs) having
logo and avoids the risk of carrying cash, as Debit card is a combination of an ATM card as
well as a charge card.
Canara Bank is the corporate agents for selling the Mutual fund products of Canbank
Mutual Fund and HDFC Mutual Fund.
Canara Bank has been giving services to customer through Online Banking in real-
time basis. It is catered to both Retail and Corporate Customers. Online give more facilities
like Online transfer of funds to own accounts or from third party accounts, Opening of Term
deposits, Loan account repayments, Initiation of standing instructions, Online stop payment
instructions etc.
Once customer have an account with any of Canara Bank designated branches
customer can operate it from any other designated branches, with AWB customers have a
host of facilities to make banking with banker pleasure.
Total 423 Canara Bank authorised branches across the country are handling Direct
Tax collections i.e., Corporate tax, Income Tax Wealth Tax, Fringe Benefit tax etc.
This facility is available to the customers of Core Banking Solution (CBS) branches,
who are registered with Canara Banks Internet and Mobile Banking.
15. SPECIAL SERVICES
These services are aimed at caring for the personal needs of the customer and
enhancing customer satisfaction. Courtesy and impartially, secrecy, safety and security are
available from Canara Bank.
The Bank acts as Trustees for public, charitable religious and other trusts. It also act
as trustees of a settlement, Trustees of a minors legacy, custodian trustee of properties held
under Trusts of any description like pension, provident and gratuity fund.
19. ATTORNESHIP
Once customer have an account with any of Canara Bank designated branches
customer can operate it from any other designated branches, with AWB customers have a
host of facilities to make banking with banker pleasure.
21. ATTORNESHIP
Canara Bank power of attorney service is a specialized service to help both their non-
resident and resident customers, who find it difficult to operate/monitor their
accounts/investments personally. After the Bank obtains power of attorney from the customer
in their favour, bank executes customers instructions regarding customers investments
promptly and carefully.
NEW PRODUCTS AND SERVICES
Canara Bank has been introduced several deposit products during Financial Year
2007. Can Tax saver, a term deposit scheme, was introduced under the Kamadhenu and
fixed deposit mode with tax benefit under Section 80C. CanChamp- an exclusive SB deposit
product was launched for aspiring children upto the age of 12 years for inculcating the habit
pf savings, as well as making them eligible for education loans. A term deposit scheme,
namely, Canara Centenary Deposit was also introduced during the year, offering attractive
rate of interest for the depositors. During the year, the bank also launched a SB-Gold deposit
scheme, targeting the HNI clients.
In the sphere of new loan products, the Bank introduced Kisan Tatkal for enabling
farmers to meet emergent requirements and Kissan Mitra scheme for funding tenant
farmers. Gramin vikas Vahini, a vehicle for inclusive growth in rural areas was also
introduced during the year, to promote SME sector, the Bank launched SME Gold Card and
a Term Loan Scheme for reimbursement of their capital expenditure.
Mysore Canara Bank Regional Office was upgraded from Regional Office in April
1998. The functions of Regional Office have been laid down by the Bank. However, on
account of changing times, a review of these functions has been made, rather than replicating
existing ones. Sections at Circle Offices will look for policy support from Head Office.
OWNERSHIP PATTERN
The Canara Bank is Mainly Public company minority of the shares which were held
by the general public, the remaining portion which will invests in the hands of Government of
India. Canara Bank shares are listed at Bangalore, Mumbai and National stock exchanges.
Ownership pattern is shown below;
Distribution of Share Holding
COMPETITORS INFORMATION
There are many competitors in Mysore District viz., Nationalised Banks are State
Bank of India, Allahabad Bank, Bank of India, Punjab National Bank, Vijaya Bank,
Corporation Bank and Syndicate Bank. Private Banks are ICICI Bank, HDFC Bank, UTI
Bank, ING Vysya Bank. Co-operative Banks are HDCC Bank and KSCARD Bank. These
are all Banks offered similar product.
State Bank of Mysore is leading under deposits with Rs.400.94 crore which is
followed by Canara Bank with Rs. 302.94 crore.
ACHIEVEMENT/AWARDS
CBROM has achieved many targets apart from their strategic plan.
The primary activities are accepting deposits and lending loans and advances.
Accepting deposits by way of savings, Current account, fixed Deposit and Recurring
Deposits. The collected money will be safeguarded according to regulation of the RBI.
Besides these Canara Bank must concentrate on stationary control. The stationary
includes application Cheque Books, challans and some other stationery. It must maintain a
sound control on these to balance the activities and services.
The Circle will report to Head Office in respect of both functional and administrative
matters. The Circle shall handle credit proposals upto the delegated powers and also handle
other general administration and staff matters (including disciplinary matters) as the existing
Circles are doing now. The branches have been provided with adequate operational flexibility
and credit sanctioning powers by the policies/guidelines spelt out by Head Office.
The circle is fixes with targets by the Head Office in all business parameters.And in
term the circle has fixed the target to the branches under its administrative purview. The
performance will be reviewed periodically at various forums.Circle office before distributing
target to the branches. They should consider the size of the branches.
The service units like accounts section and currency chests attached to their base
branches and would continue to function under the same circle as the base branch circle will
report of both functional and administrative matters. Circle shall handle credit proposal up to
the delegated powers and also handle other general administration and staff matter (including
disciplinary matters). With this the bank will be broadly moving into a three-tier system of
administration of operation.
FUTURE GROWTH AND PROSPECTUS
The Mysore Canara Bank circle has good scope for lending to agriculture sector and
improves Micro Finance. The District under the circle has large number of self help group
and they will avail substantial credit. Then out of 4 districts 3 districts are having substantial
cultivation.
The coffee price is firming up and improving with this Circle can increase exposure to coffee.
Mysore city has a special economic zone. Few big industries have already set up their units.
Here more units are likely to come up within few years. As the infrastructure is improving
and this will help to circle increasing Business substantially.