Canara bank opens 10 rural branches in AP

Canara Bank today opened 10 branches in rural areas of Andhra Pradesh, along with 10 ATMs and 15 SME cells and counseling centres.

These new branches have opened more than 1,000 accounts on the opening day with over 1000 lending activities, the Bangalore-headquartered bank said in a statement.

"Each of these branches shall be the base branch for extending Financial Inclusion activities to be undertaken as part of providing banking facilities in the unbanked areas and shall be used for micro finance lending like KCC, GCC and extension finance of other small loans for agriculture and other livelihood earning activities," it said.

The bank would have by this month-end branch in all 23 districts of Andhra Pradesh, where it has plans to open 19 more branches, including 50 per cent in rural areas.

Source: Business Standard