Canara Bank with a focus on women clientele is planning to open 10 all-women employee branches across the country.

According to R.K. Dubey, chairman and managing director of the bank, processing charges for home and vehicle loans for women will be waived from March 1, 2013, to May 31, 2015.

The bank has also begun new initiatives such as waiver of promoter’s contribution and providing 100 per cent finance for micro and small projects up to Rs 1 lakh for empowerment of women.

“We also plan to waive processing charges and upfront fee for loan up to Rs 5 lakh under micro and small projects. Also we have reduced the interest on loans to women up to Rs 5 lakh to base rate of interest i.e. 10.25 per cent at present,” said Dubey.

In order to encourage entrepreneurship and reward successful women entrepreneurs, Dubey said the bank is launching ‘annual award scheme’ for successful women entrepreneurs financed by the bank with three cash awards of Rs 25,000, Rs 50,000 and Rs 1 lakh.

A.K. Gupta, executive director of the bank, exchanged documents with Dilip Chenoy, the managing director and CEO of NSDC, in New Delhi to mark the formal launch of the project.

The bank has partnered with National Skill Development Corporation (NSDC) for skill development and recruitment of graduate unemployed youth of Jammu & Kashmir State under ‘Udaan’ – a special industry initiative of Ministry of Home Affairs for Jammu & Kashmir.

As a corporate social responsibility (CSR) initiative, Canara Bank is also planning to take up a project for construction of toilets in 130 schools for girls, five each in all 26 lead districts of the State, with a financial outlay of Rs 1 crore.

The bank as a CSR activity donated Rs 5 lakh to SGS Hospital, Mysore, for its expansion programme. Dubey handed over the cheque to Shri Ganapathy Sachchidananda Swamiji.

Recently, Dubey called on Chief Minister Jagadish Shettar and discussed with him various developmental issues connected to the State and assured him cooperation from Canara Bank. The Chief Minister also promised all support to the bank.

(This article was published on March 14, 2013)
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