GOVERNMENT SPONSORED SCHEMES
Canara Bank is the front-runner in
implementing various Government Sponsored Schemes aimed to uplift poor,
educated un-employed / under-employed people in rural / semi-urban / urban
areas by providing financial assistance to set up self-employment ventures with
the help of various government authorities / agencies.
are the prominent schemes:
NRLM (NATIONAL RURAL LIVELIHOOD MISSION) /AJEEVIKA
The Hon'ble Finance Minister in his budget speech for 2013-14
proposed to provide interest subvention to women SHGs who avail loans up to
Rs.3 lakhs at 7% per annum. The women SHGs will get an additional subvention of
3% if they repay in time, reducing the effective rate of interest to 4%.
This Scheme is launched by Ministry of
Rural Development (MoRD), Government of India in June
2013. Aided in part through investment support by World Bank, the mission aims
at creating efficient and effective institutional platforms of the rural poor
enabling them to increase household income through sustainable livelihood
enhancements and improved access to financial services.
NRLM has replaced the existing SGSY Scheme
with effect from 01.04.2013
CANARA BANK has been designated as
nodal bank to handle the activities related to this scheme.
is promoted by MoRD, GoI
and is applicable for all Public Sector Banks, Regional Rural Banks and
Co-operative Banks in the 150 identified districts.
CREDIT TO SPECIFIED MINORITY COMMUNITIES
As per guidelines of Ministry of Finance, the mandatory credit to
Minorities was set at 13% of priority sector during 2008-09, to be increased to
15% by March 2010 and sustained during the next three years.
Ministry of Finance also stressed in opening
of Bank Branches in the Minority Concentrated Districts and exclusive set up at
Head Office level for monitoring the progress of Lending to Minority
Road Map Drawn for
Achieving the Mandatory Target:
Our Bank had drawn a road map during the year 2009 and steadily
increased to credit flow to Specified Minorities and has achieved the mandatory
level as at March 2010 and a maintained
consistent level of above 17% to Priority Sector advances, as against
the mandatory level of 15% since March 2010.
Our Bank has taken the following initiatives for improve Lending to the
executive designated at Head Office to monitor progress under Lending to
of exclusive cell for lending to Minority Communities at Head Office.
Officers at Minority Concentrated Districts at all the 5 Lead Districts in the
State of Kerala.Â
Campaign during the month of November every year are beingÂ exclusively for lendingto persons fromMinority Communities.
Bank has also initiated several pro-active steps viz., developing the Minority
concentrated districts (MCD), designating nodal officers in MCD where our
bank is having the lead bank responsibility, organizing credit campaign
exclusively targeting the minority communities providing proper training, EDP
programmes as a hand holding gesture and a step towards development and
empowerment of the Minority Communities.
SCHEDULED CASTE / SCHEDULED TRIBE CELL OF CANARA BANK
In Canara Bank the various
steps being undertaken by our bank for hassle free sanction / disbursement of loans to persons
from SC/ST communities.
1. Bank has issued
guidelines to all branches / offices
that no loan proposal received from applicants belonging to SC/ST categorycan be rejected at branch level.
2. A special cell has
been set up at Head Office for monitoringflow of credit to SC/ST persons.
3. In education loan sanction
process where the admission is purely based on the marks scored in qualifying
examination, the cut-off marks of 60 % is stipulated for all students as per
IBA Model Scheme .However, in our bank we have reduced the cut-off point to 50%
for students belonging to students belonging to SC/ST category, so as to
motivate /encourage students to pursue higher education.
4. Every year Canara
Bank is celebrating the
month of 'April and October as SC/ST Month'
with a view to organize special credit campaigns in order to encourage maximum
number of SC/ST borrowers to avail various credit facilities extended by the
Bank, including loans under Differential
Rate of Interest (DRI)
category to SC/ST students., where loans are charged @ 4% rate of interest
subject to eligibility.
5. Special emphasis
has been given by our bank to
encourage skilling of un-employed youth. We have entered into MoU with National Skill Development Corporation of India, (NSDC) to extend
loans for pursuing Vocational Education and Training courses. These courses are taken up by students from
lower economic strata of the society mostly comprising of SC/ST category.
6. In addition to the
above, Our bank has launched a scheme of
extending financial assistance to SC/ST girl students from rural area and named
as "Canara Vidya Jyothi Scheme" as a Corporate Social Responsibility (CSR)
Under the scheme, each rural branch of the Bank to extend financial assistance to
six girl students of their command area. Three students one each from class 5th to class 7th
are assisted @ Rs 2500 each, another three, one each from class 8TH to class
10TH are assisted @ Rs 5000 each.
NOTE: The information provided above is only illustrative and not
For more details, please contact your nearest Canara Bank Branch or mail to email@example.com