BENGALURU, 26^th MARCH, 2020 (GPN): Canara Bank, as a socially responsible organisation is always at the forefront to extend its support to its customers. In the wake of Covid-19 crisis, Customers are advised to stay safe and connect to the Bank through various digital modes.

Canara Bank has already announced waiver of charges for non-maintenance of minimum balance in Savings Bank accounts and waiver of ATM charges for using other Bank ATMs for cash withdrawals, etc. up to 30.06.2020.

Additionally, Canara Bank has now introduced a new loan scheme (Canara Credit Support) with immediate effect to support its customers to tide over the liquidity/ cash flow mismatches in the wake of disruption in business operations due to recent outbreak of Covid 19.

·         Under this new scheme (Canara Credit Support – Covid 19) MSME/ Corporates/ Agri/  Business Entities/ Retail Borrowers are eligible to avail from 10% to 35% of their existing Working Capital or loan limit depending upon category of borrowers on softer terms up to 30.06.2020. No additional security is required for the said facility.

Canara Bank once again advises its customers to follow the safety norms and stay healthy. The organisation firmly believes that together we can overcome Covid-19 very soon. ENDS

About Canara Bank:

Widely known for customer centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. The Bank has gone through the various phases of its growth trajectory over hundred years of its existence. Growth of Canara Bank was phenomenal, especially after nationalization in the year 1969, attaining the status of a national level player in terms of geographical reach and clientele segments. Eighties was characterized by business diversification for the Bank. In June 2006, the Bank completed a century of operation in the Indian banking industry. The eventful journey of the Bank has been characterized by several memorable milestones. Today, Canara Bank occupies a premier position in the comity of Indian banks. Canara Bank has several firsts to its credit.