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Karnataka
Award for Canara Bank
Staff Reporter
It has excelled in lending micro finance
BANGALORE: The Union Government has conferred the first award under “National Awards for Excellence in Lending to Micro and Small Enterprises for the year 2006-07” to Canara Bank.
The award, instituted by the Ministry of Micro, Small and Medium Enterprises, is in recognition of the bank’s performance in lending to micro and small enterprises sector during 2006-07.
Canara Bank has increased its lending to micro and small enterprises by Rs. 3,261 crore this year, for an impressive growth of 49.48 per cent over the level of March 2006.
The outstanding credit of Canara Bank to micro and small enterprises crossed Rs. 10,000 crore in June 2007 and outstanding credit to micro small and medium enterprises sector crossed Rs. 15,000 crore, said a release.
Bank’s chairman and managing director M.B.N. Rao received the award on Thursday from Prime Minister Manmohan Singh in Delhi.
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