THIRUVANANTHAPURAM: Excise Minister K Babu on Thursday said that the initiatives of Canara Bank in the uplift of the rural population were commendable. He was inaugurating the Canara Mega Outreach Utsav here. The Minister also declared open 15 new branches of Canara Bank in the state. Planning Board Vice-Chairman K M Chandrasekhar, who launched 15 new ATM counters of the bank at the ceremony, mooted a sophisticated system to curb the economic recession that has hit the European countries. It was the public sector banks here that had saved the country from the threat of global economic recession two years ago and banks like Canara Bank still have a major role to play in continuing the efforts to keep the recession at bay. He also said that Canara Bank has played a pivotal role in promoting the growth of financial inclusion across the country. Canara Bank Executive Director Archana S Bhargava and Mariamma Oommen Chandy flagged off the Canara Gramin Vikas Vahini for spreading Financial Literacy and Counselling services. Several new initiatives of the bank such as distribution of 5,007 Kisan Credit Cards, sanctioning of 2,014 DRI loans, sanctioning of loans to 458 persons and issue of 49,037 micro credit cards, distribution of 5,053 smart cards and 5,000 Micro insurance cards, formation of 109 farmers’ clubs across the state, launching of Canara Bazaar for women and rural entrepreneurs, distribution of educational loans and AADHAR enrolment scheme were also launched during the Canara Outreach Mega Utsav. Banking Ombudsman F R Joseph, National Bank for Agriculture and Rural Development (NABARD) Chief General Manager K C Sasidhar and NABARD Deputy General Manager K R Balachandran were also present at the function.
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