Speaking at a press meet in Madurai, Canara Bank, Chairman and Managing Director, Mr A.C. Mahajan said that the lender is aiming to achieve a business of Rs.4 lakh crore during the current fiscal. Mr. Mahajan said that the aggregate business has reached Rs 3.5 lakh crore end-September. This represents a year-on-year growth of 20.6 per cent.
Addressing reporters, he said the number of domestic branches is slated to cross 3,000 by March. Referring to the banks activities and presence in Tamil Nadu, he said the various branches of the bank in the state handle a business of Rs 43,388 crore and the CD ratio stood at 89.1 per cent.
He stated that under the priority sector, the outstanding for the State is Rs 12,201 crore and added that it was divided as follows – Rs 6,396 crore for agriculture, Rs 3,131 crore to weaker sections and Rs 847 crore as educational loan.
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