A Brief Profile of the Bank.
Widely known for 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 the various phases of its 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 was characterized by business diversification for the Bank. In June 2006, the Bank completed a century of operation in the Indian banking industry. The eventful journey of the Bank has been characterized by several memorable milestones.
Today, Canara Bank occupies a premier position in the comity of Indian banks.
Canara Bank has several firsts to its credit. These include:
- Launching of Inter-City ATM Network
- Obtaining ISO Certification for a Branch
- Articulation of ‘Good Banking’ – Bank’s Citizen Charter
- Commissioning of Exclusive Mahila Banking Branch
- Launching of Exclusive Subsidiary for IT Consultancy
- Issuing credit card for farmers
- Providing Agricultural Consultancy Services
Over the years, the Bank has been scaling up its market position to emerge as a major 'Financial Conglomerate' with as many as ten subsidiaries/sponsored institutions/joint ventures in India and abroad.As at December 2018, the Bank has further expanded its domestic presence, with 6307 branches spread across all geographical segments. Keeping customer convenience at the forefront, the Bank provides a wide array of alternative delivery channels that include 9004 ATMs, covering 4505 centers.
Several IT initiatives were undertaken for customer convenience.
- Digital Branch –CANDI, opened at Bangalore, Chennai, Delhi and Mumbai with fully automated facilities and robotic assistance for customers to open accounts and do transactions themselves.
- 184 hi-tech E-lounges are operational in select centres with facilities like ATM, Cash Deposit Kiosk with voice guided system, Cheque Deposit Kiosk, Self Printing Passbook Kiosk, Internet Banking Terminal, Online Trading Terminal and Corporate Website Access.
- Customers can directly scan Bharat QR 4.0 of merchants with their EMPOWER application and pay directly with their Master/ Visa/ Rupay Cards.
- First Bank to introduce unique option “Aadhaar Status” in our ATM using which our card holders can ascertain the status of Aadhaar linking to their account.
- Nomination through net banking facility to add/modify and delete enabled.
- https://canarabank.gaadi.com provides car models; on-road price & approximate EMI and instant online loan application can be submitted.
- Submission of 15G/H through net banking enabled.
- Instant restoration of credit limit enabled for credit cards in case of remittances of Card dues.
- Canara mServe App enables to set daily transaction limit on ATM/PoS.
- Report suspicious transaction through CPGRS web portal, SMS “SUSPECT” to 56161, call centers and branches for blocking accounts in case of unauthorized electronic Banking transaction.
- New module for handling Pension Processing & Payment (CPPC) launched to enable timely disbursement of Pension and arrears.
- Canara DigiSign (Digital Signature using eSign Aadhaar OTP facility) released.
- Online Self Registration of Internet Banking for Proprietorship Accounts enabled.
- Recycler functionality for Accepting & Dispensation of cash – implemented.
- OTP based Aadhaar seeding and Authentication through Canara Bank’s website using Internet Banking login enabled.
- Aadhaar Number made as one of the key authentication factors for Unlock/Activate/Reset Password in Retail Net Banking customers.
- Enabled Toggling (On/Off) option in Internet Banking for Financial Transactions
- IMPS limit enhanced from Rs. 50,000 to Rs. 2,00,000 per customer per day
- UPI Application is now available in Android and iOS platforms
- Bharat QR Code for VISA, Master and Rupay Card enabled in Mobile Banking App
- For Corporate customers, Maker- Checker functionality enabled for tax payment through internet banking
- A number of Debit/Credit/ prepaid cards launched like Canara Bank RuPay Debit Card, Canara Club Card – Debit, Canara Secured Credit Card, Canara Elite Debit Card, Platinum Rupay Card and EMV Chip Cards.
- Online Savings Bank and PPF account opening introduced.
- Enhanced version of CanMobile, Canara e-InfoBook- an electronic passbook and banking related information facility on mobile platforms - Android, Windows & iOS.
- Mobile Banking Registration through ATMs (Interoperability through NFS) has been introduced.
- P2U (Person to UIDAI) funds transfer through Mobile Banking in WAP channel enabled
- Canara Galaxy, a combo product, comprising SB, Demat, OLT, Internet & Mobile Banking, Insurance, card services and other add-ons launched.
- Under education loan interest subsidy, web portals released for Central Scheme for Interest Subsidy (CSIS), Ministry of HRD, GoI, Dr. Ambedkar Central Sector Scheme of Interest Subsidy (ACSIS), Ministry of Social Justice & Empowerment, GoI and Padho Pardesh, Ministry of Minority Affairs, GoI.
- Instant loan application sanction portal for Housing Loan and Car Loan launched.
- MUDRA Debit Card for overdraft accounts under MUDRA Card scheme introduced.
- Subscription of Social Security Schemes of Govt. of India through ATM, SMS and Internet Banking enabled.
- “Jeevan Praman” a digital life certificate for pensioners implemented.
- Implemented automated reminder SMS/Email Alerts to customers intimating to submit RC Copy/Insurance for the vehicle loans and tax paid receipt/certificate for the mortgaged property.
- Missed Call / SMS Based ePass Sheet generation enabled.
- Implemented SMS/Email Alerts to NPA Borrowers intimating to regularize overdues in accounts.
The Bank has recently launched a series of customer friendly mobile application as under:
- Canara Saathi – Canara Bank Credit Card Self Service Mobile App.
- Canara OTP – Mobile app for generating OTP for your Canara Bank Internet Banking
- BHIM Aadhaar Pay- App for accepting payments for the sale of goods/services.
- BHIM Canara Empower- Unified Payments Interface (UPI) for single platform in accessing multiple bank accounts.
- Canara mServe- enables customer to Hotlist and Block/Unblock Cards.
- Canara GeoLocate- a mobile Application which enables a GPS based search for locating Branch, ATMs and E Lounge of Canara Bank.
- Green PIN in ATMs, an online module to generate Debit Card PIN at the time of fresh issuance of Card and also when the customer forgets the PIN.
- Canara Tech- support for structured resolution of queries related to tech-products.
- Canara Cart- an application basket containing all mobile based solutions. Customers can manage all mobile apps of Canara Bank under this single application.
- Canmoney- an exclusive stock trading mobile
Not just in commercial banking, the Bank has also carved a distinctive mark, in various corporate social responsibilities, namely, serving national priorities, promoting rural development, enhancing rural self-employment through several training institutes and spearheading financial inclusion objective. Promoting an inclusive growth strategy, which has been formed as the basic plank of national policy agenda today, is in fact deeply rooted in the Bank's founding principles. "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". These insightful words of our founder continue to resonate even today in serving the society with a purpose. The growth story of Canara Bank in its first century was due, among others, to the continued patronage of its valued customers, stakeholders, committed staff and uncanny leadership ability demonstrated by its leaders at the helm of affairs. We strongly believe that the next century is going to be equally rewarding and eventful not only in service of the nation but also in helping the Bank emerge as a "Preferred Bank" by pursuing global benchmarks in profitability, operational efficiency, asset quality, risk management and expanding the global reach.