A recent press report said that Canara bank had organised a mega Canadalat. Repots said that the mega Canadalat organised by the bank evoked tremendous response and 208 non-performing asset (NPA) borrowers attended the meet.
According to press reports the got received settlement of Rs 190 lakh on the occasion and a spot cash recovery of Rs 28 lakh were also made. Speaking on the occasion, deputy general manager Mr. G S Unnithan insisted the borrowers to repay their dues timely.
Mr. S. Raghavan, AGM, of the bank informed the borrowers that bank has restructured and rephrased many accounts of people affected by natural calamity to help them tide over the crisis and also enable the bank to give consumption loans to the needy.
The loan portfolio of the bank includes home loans, personal loan, gold loan, education loan, mortgage loan, etc. Canara Bank is a state-owned financial services company in India. It was established in 1906, making it one of the oldest banks in the country. It occupies a premier position in the comity of Indian banks with an unbroken record of profits since its inception.