Canara Bank business expansion scheme

Mangalore Today News Network

Mangaluru, July 13, 2015 :  Addressing media at the launch of  the scheme;  Canara Bank Officers’ Association (CBOA), affiliated to AIBOC, has launched "10 Thus We Can" campaign, an initiative to achieve a business of Rs 10 lakh crore and a net profit of Rs 10,000 crores by March 2016.

At the Founders’branch at Dongarakeri,  CBOA General Secretary G V Manimaran, who is also the director on the Board of the Bank, said that the CBOA had recently launched "Canpal", a voluntary group of CBOA members, numbering about 22,000, and retired officers with an aim to improve the performance of the bank in terms of business. "Thus We Can" is a part of the ’Canpal’ scheme.

Clarifying the objectives, Manimaran said every CBOA member would bring 10 new potential customers and bring business of Rs 1 lakh each of such customers in savings bank accounts totaling two lakh accounts and Rs 2000 crore deposits. Also, every member would bring 10 housing loans of minimum Rs 10 lakh each to achieve two lakh fresh accounts with disbursal of Rs 20,000 crore as advances. Other objectives include issuing 10 credit cards by every CBOA member, so that two lakh fresh cards are issued thus ensuring a minimum of Rs 10,000 per month business through each of such cards to achieve the remittance of Rs 200 crores through the operating accounts.

Manimaran also said that plans are on the anvil to issue credit cards to 10 per cent of the customers to reach 60 lakh credit card base; Generating 10,000 fresh income from the 10 per cent of the customers to bring in 6,000 crores income afresh; Routing all the ECS inward remittances to the operating accounts and credit it to loan accounts through standing instructions, wherever required.

Deputy General Manager and Circle Head G V Prabhu was present.