CANARA BANk   LAUNCHING OF STATE LEVEL ANNUAL CREDIT PLAN 2020-21  

19th June 2020, Chennai: The 150th SLBC meeting was held on Friday,19th June 2020 in the Conference Hall, Vidhana Soudha, Bengaluru. The meeting was Chaired by Shri.T. M Vijay Bhaskar, Chief Secretary, GoK. Smt. Vandita Sharma, ACS & DC, GoK, Sri. Jose J. Kattoor, Regional Director, RBI, Sri. H R Srivatsa, General Manager, NABARD, Ms. A. Manimekhalai, Executive Director, Canara Bank and Sri. T Manivannan, Convenor-SLBC, Secretaries and Senior level officials of various line departments of GoK and Executives of member Banks were attended the meeting.

LAUNCHING OF ANNUAL CREDIT PLAN FOR THE FY- 2020-21:

The Annual Credit Plan for the Financial year 2020-21 was launched by Sri. T M Vijay Bhaskar, Chief Secretary, GoK in the august presence of other dignitaries.

The Executive Director Ms. A. Manimekhalai informed that the total projection of 2,55,940 cr has been arrived under Priority Sector Credit as compared to previous year’s plan of 2,12,517 Cr showing an increase of 20.43%. Which comprises projections under Agriculture credit is 1,12,199 Cr, under MSME is 93,088 Cr, under Education is 5,805 Cr, under Housing Loan 27,055 Cr and towards other Priority sectors is 10,754 Cr. She appealed to all the Bankers that, to put all out efforts not only for achieving the set targets but also to surpass the same well before March 2021.

PERFORMANCE UNDER ANNUAL CREDIT PLAN 2019-20:

The house reviewed the performance under Annual Credit Plan 2019-20 and appreciated banks and expressed the happiness that the Banks have disbursed 2,00,118 Cr. as against the annual target of ₹ 2,12,517 Cr. Under Priority Sector Credit recording an achievement level of 94.17% during 2019-20. The house appreciated the Banks for achieving 79.64% under Agriculture and allied sector and 170.24% under MSME against targets.

As on March 2020, Karnataka State has secured 3rd position at all India level with respect to Mudra loan disbursement (₹ 30,186 Cr) next to Tamil Nadu (₹ 35,006 Cr) and Uttar Pradesh (₹ 30, 949 Cr).

The Chief Secretary, GoK has reviewed the performance of implementation of Central and State Govt. Sponsored Schemes in banking sector.

About Canara Bank:

Widely known for its customer centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. The Bank has gone through various phases of growth trajectory over hundred years of its existence. Growth of Canara Bank was phenomenal, especially after nationalization in the year 1969, attaining the status of a national level player in terms of geographical reach and clientele segments. Eighties period was characterized by business diversification. In June 2006, the Bank completed a century of operations in the Indian banking industry. The eventful journey of the Bank has been characterized by several memorable milestones.

After amalgamation of Syndicate Bank into Canara Bank on 01.04.2020, the bank has attained the position of 4th largest Public Sector Bank in the country with a total business of Rs 15, 53,792 crores. With 10403 domestic branches, 13448 ATMs and about 6000 Business Correspondents, the Bank has got unparalleled potential to become the numero uno nationalized bank in the country with a premier position in the comity of Indian banks.