Canbank to take banking to 1400 villages

Canara Bank plans to include 1,400 villages across India for 100 per cent financial inclusion.

While addressing a press meet to announce the bank's first quarter results, Canara Bank chairman and managing director M B N Rao said that the bank was aggressively pursuing the objective of 'financial inclusion' in the country and the villages would be notified shortly.

Apart from financial inclusion, the bank is also launching 'Cansaral', a 'no frills' deposit scheme besides the recently-launched 'CAN-NE', a special savings account scheme with an overdraft facility for the under-banked north eastern region of the country.

The bank's outstanding priority credit rose by 19.72 per cent to Rs 30,136 crore in Q1 FY 2006-07 as compared with Rs 25,172 crore as of Q1 FY 2005-06. Under the priority sector, outstanding agriculture credit clocked a 27 per cent growth to touch Rs 11,570 crore as against Rs 9,112 crore a year ago.