Canara Bank has acquired ten percent stake or 5,06,667 shares in Bangalore-based Brickwork Ratings. Both the entities will collaborate in various activities related to Banking and Credit Rating. The strategic investment would help take up joint activities on risk management, training, research, financial inclusion, credit rating models, events, conferences etc.
Recently, Canara Bank reduced its minimum benchmark lending rate from 10.25% to 9.95%. The public sector bank also cut deposit rates by up to 50 basis points.
