Money & Banking

Canara Bank may hire 3,000 personnel this year

| | Updated on: Jul 22, 2011
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Canara Bank is likely to fill-up 3000 vacancies in various categories during this year, according to its Executive Director, Ms Archana S Bhargava.

Speaking to newspersons here on Friday, Ms Bhargava said apart from clerks, probationary officers, and agricultural officers, specialist positions in areas such as information technology would also be filled-up.

“We have significant retirements which are to be replaced and branch expansion programme during the current year,'' she said.

Over 250 branches were likely to be added before March 2012 to the present network of 3,350 branches, she added.

As part of its focus on microfinance and Self Help Group (SHG) linkage, three new microfinance branches would be opened in Andhra Pradesh.

RETAIL FOCUS

The thrust areas for Canara Bank in the present financial year would be retail and branch expansion.

“We will focus on retail segment along with stability in Current Account and Savings Account (CASA). The corporate credit demand was sluggish in the first quarter on expected lines,'' Ms Bhargava said. The target was to reach a total business of Rs 6.25 lakh crore by March 2012.

At present, Canara Bank had a total business of Rs 5 lakh crore, she added.

The Net Interest Margin could be maintained at about three per cent during 2011-12, she said.

Canara Bank is in the process of opening branches in seven overseas locations including Germany, Bahrain Japan, Zedda and the US soon, she added.

RATE HIKE

On the policy rates, Ms Bhargava said the Reserve Bank of India might hike rates again in the ensuing policy review next week.

“The rates are likely to go up. Some transmission of rates has to happen if the apex bank preferred to hike repo and reverse repo again,'' she added.

Published on March 12, 2018

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