|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 and
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 Bangalore,
offering 3-3.5 per cent interest on the deposits.
- The Canara Bank and Bank of India have envinced interest to
provide loan to the Rs 6,500 crore joint venture Bharat Oman
Refineries project in Madhya Pradesh.
- Public Sector Canara Bank has hiked prime lending rate and MTLR
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 crore to
increase the tier-II capital before september 30.
- Bangalore - based Canara Bank has set up four corporate service branches
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 projects.
- Canara Bank has named RV Shastri as its new chairman and Managing Director.
-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 credit facilities
-Reduces interest rates on NRE and domestic term deposits
-Launches 3 ATMs at Nanganallur, Annanagar and Valmikinagar of Tamil Nadu
-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 & Chennai
-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 Moscow
-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 participation
-Aviva Life Insurance launches sale of its products through Canara Bank
-Issues Tier II Capital (Unsecured Redeemable Non-Convertible Subordinated Bonds) aggregating Rs 400 crore
-Launches a floating rate deposit scheme (FRDS) for high networth individuals
-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 cent
-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 nationalised banks
-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 infrastructure projects.
-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 (KWA)
-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 power tillers
-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 Ltd (UIICL).
-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 heaters
-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 Nationalized Banks.
-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 is earlier.
-The Bank crossed the coveted Rs. 3 lakh crore in aggregate business
-The Banks 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 dealers.
- 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.<BR><BR>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.