Canara Bank has gained in the tune of Rs600 crore in Jharkhand itself after demonetisation announced on November 8. Managing Director and Chief Executive Officer Rakesh Sharma of the bank informed about this on Thursday.
“Demonetisation has been good for our bank in liquidity terms. Nationally we have received Rs55000 crore as deposits after the note ban while in Jharkhand the deposits have been Rs600 crore. Out of this about Rs200 crore is still left with our bank branches and the rest has been withdrawn” said Sharma in an informal chat with the press persons.
On the occasion he expressed dissatisfaction over the bank’s CD ratio in the State which is hovering at around 20 per cent. “We are planning to open 15 new branches next year which would be adding into existing 138. Currently our business is in the tune of Rs16000 crore in the State. We are offering some lucrative home loan rates which is 8.70 per cent for general and 8.65 per cent for women. Today I took a detailed meeting with all our regional heads in this regard,” said the CEO.
He expressed his plans to cover more semi-urban and rural areas of the State in the days to come and also to lower NPA of the bank in the State which is between 8-9 per cent of the total deposits. The chief of the bank at the same time expressed satisfaction over recalibrating its ATMs, 182 in Jharkhand, within one month in accordance with new currencies issued after the demonetisation.
Nationally Canara Bank has 5960 bank branches with business in the tune of Rs8 lakh crore. Its priority sector advances has been 53 per cent with 23 per cent going only to agriculture sector.