A recent press report said that Canada Bank has opened a branch at Gudivakalanka in West Godavari district of Andhra Pradesh to reach unbanked villages under the Swabhiman plan of the Centre to implement financial inclusion.
The bank has been allotted 130 unbanked villages. As part of its business plan to cover 25 of these villages it will have branches, while in the rest it will reach out through business correspondent model, a press release said. Gudivakalanka has more than 1,000 households and the bank has opened more than 2,500 accounts with total business of Rs 5.05 crore.
Canada Bank has 232 branches in Andhra Pradesh. It is targeting a business of Rs 35,000 crore in the State, the release said. In July, 2011, the bank opened 10 more rural branches as part of its rural commitment to expand its rural base and to support farmers, SHGs, micro-credit and to render full ambit of financial services.
Canada bank offers many services to the people and is well known for its services offered in the loan segment. The bank’s loan portfolio includes home loan, personal loan, car loan, education loan etc.