Tamil Nadu   

Chair in financial economics instituted

Special Correspondent

CHENNAI: Canara Bank instituted a chair in financial economics at the Madras School of Economics on Tuesday.

Bank chairman and managing director M.B.N. Rao handed over the cheque for Rs.1 crore — the fund for the corpus — to school chairman C. Rangarajan.

The corpus would support the School's capabilities in teaching and research of financial services. The school, which had been offering M.Sc in Economics, introduced M.Sc in Financial Economics last year. Mr. Rao said the alliance would help to foster new ideas and concepts in financial economics. It would yield rich dividends to the intellectual pool and the general policy framework in the economic affairs of the country.

Dr. Rangarajan, who is also the Chairman of the Economic Advisory Council to the Prime Minister, said the century-old Canara Bank was a front-runner in many areas of banking, including agriculture credit.

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