STATEMENT BY CANARA BANK ON 111th FOUNDER’S DAY

Bengaluru, November 19, 2016: Canara Bank, a leading nationalized Bank of the country has accomplished 110 years of distinguished and dedicated service to the nation today (19th November 2016). The organization fondly observes Founder’s Day on 19th November  every year, being the birth anniversary of its noble and legendary founder Late Shri Ammembal Subba Rao Pai.

The Bank has a rich tradition of commemorating this Day with grandeur and spectacle to pay reverence to its founder and rededicate its services to the nation. Today Bank celebrated its 111th Founder’s Day at its Head Office, 112 JC Road, Bangalore.

To mark this auspicious occasion, Shri T N Manoharan, Chairman & Shri Rakesh Sharma, MD & CEO inaugurated Mobile POS, Canara Vahini Van for serving citizens of Bangalore. The POS machine will be Cash on Wheels facility for the Public dispensing petty cash (up to Rs 2000/-). Briefing about the noble concept, Shri Manoharan said that this initiative was need of the hour to ease out the rush at the ATM / Branch counters as well as at customer’s convenience. It will supplement the efforts of our already deployed Mobile ATM that is catering to entire city of Bangalore. Another similar 111 POS machines are being deployed across the country today. We have already brought relief to thousands of stranded customers by introducing these mobile ATMs, he said. Each POS is expected to serve up average 1000 withdrawals in a day.  

Shri Rakesh Sharma, while complimenting the phenomenal efforts put up by each staff of Canara Bank in the most testing and challenging times, congratulated them on 111th Founder’s Day. Shri Sharma lauded the step announced by RBI / Government yesterday in relaxing the norms for Cash Withdrawal at POS in Tier I & II cities which will bring relief at Metro/Urban centres. Shri Sharma informed that sooner the RBI announced the move, we have fallen in line by recalibrating all POS at Metro/Urban centres. He appealed to the public in general & customers in particular to make best use of the facility provided.       

“Keeping in mind our rural customers, who too are facing cash crunch, we have deployed a mobile ATM / POS in the rural districts of the country. We are looking forward to launch few more vans that will be exclusively targeted at the people in the rural villages / semi urban cities where there are no/few ATMs”, Shri Sharma added.