Canara Bank is considered to be the largest public sector bank which is owned by the Government of India. The head quarter of Canara bank is in Bengaluru. It was established in the year 1906 by Shri AmmembalSubba Rao Pai at the city of Mangalore. The bank has a network of 6639 branches and more than 10600 ATMs spread across India. The bank has also offices abroad in London, Hong Kong, Moscow, Shanghai, Doha, Bahrain, South Africa, Dubai, Tanzania and New York.
Canara bank offers host of products and services such as:
Reserve Bank of India (RBI) has launched IFSC codes which stand for Indian Financial System Code. This code was introduced by the RBI in order to ensure security and safety of the transactions. IFSC Code also helps in indentifying the bank and branch where the account of the beneficiary is held. RBI has also mandated IFSC code for different bank transactions. The IFSC code helps in recognizing each and every bank and its branches separately. The IFSC Codes follow two payment and settlement systems in India which are as follows:
In IFS Code (a) First four characters identify the bank name i.e. CNRB (b) The fifth character is always 0 (c) And the last character represents the branch address i.e. 002410 [The IFS code used in above example is of Ushakal Apartments, 1st Floor, Deepbungalow, Model colony, Pune i.e., “CNRB0002410”]. Pune is considered to be the second largest city in the state of Maharashtra and 8th largest agglomeration in India with a population of 4.5 million. The city is popular as a cultural capital of Maharashtra. It consist of several esteemed colleges and educational institutions and for this it is called the Oxford of the East.
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Rahul BhistFirst blog by the Bhist Archives
February 2018
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