Canara Bank, the public sector lender has bagged IDRBT Best Bank Award for its use of technology for financial inclusion. CMD of the bank, S Raman, formally received the award from the RBI Governor D Subbarao at an event organized in Hyderabad by the Institute for Development & Research in Banking Technology.
On standalone basis, the bank has posted a rise of 6.80% in its net profit at Rs 775.24 crore for the quarter ended June 30, 2012 as compared to Rs 725.85 crore for the same quarter in the previous year. Total income has increased by 18.91% at Rs 9165.47 crore for quarter under review as compared to Rs 7707.59 crore for the quarter ended June 30, 2011.
