Canara Bank has inked memorandum of understanding (MoU) with Three Wheels United India Services for financing individual auto rickshaw drivers in Karnataka under the project ‘Namma Auto’
Namma Auto is community uplift project undertaken by Three Wheels India United Sevices to ensure sustainable livelihood for poor auto rickshaw drivers by enabling them to acquire environment friendly four stroke LPG auto auto rickshaw through finance from Canara Bank.
Canara Bank has reported 42.39% fall in its net profit at Rs 409.35 crore for third quarter ended December 31, 2013 as compared to Rs 710.51 crore for the same quarter in the previous year. However, Total income of the bank has increased by 16.45% at Rs 10935.29 crore for quarter under review as compared to Rs 9390.29 crore for the quarter ended December 31, 2012.
