Public sector Canara Bank is planning to open small branches at Tiruchi circle, in Tamil Nadu, with an aim to offer financial services to rural people. The bank is likely to provide a total of 88,000 kisan credit cards to farmers before the end of this fiscal. It has decided to open 80,000 no-frill account this fiscal as part of the financial inclusion scheme.
The bank has reported 18.85% fall in its net profit at Rs 710.51 crore for third quarter ended December 31, 2012 as compared to Rs 875.56 crore for the same quarter in the previous year. However, total income of the bank has increased by 9.51% at Rs 9390.29 crore for quarter under review as compared to Rs 8574.45 crore for the quarter ended December 31, 2011.
