Canara Bank, a leading nationalized bank has entered into a memorandum of understanding (MOU) with Micro Energy Credits Corporation to finance bank customers buying energy efficient ‘green’ products such as cook stoves, solar home systems, biogas digestors and water purifiers. With this MOU, the bank wanted to assist and promote the use of green products and reduce carbon emission.
Over the years, the bank has been scaling up its market position to emerge as a major 'Financial Conglomerate' with as many as nine subsidiaries/sponsored institutions/joint ventures in India and abroad. In the current fiscal, the bank had opened 875 branches, taking the total number to 5,632, including seven in overseas locations. The bank opened 1,188 ATMs during the year taking the total to 7,500.
