Daijiworld Media Network – Mangaluru (SB)
Mangaluru, Oct 19: Canara Bank will shortly open a specialized NRI branch at Kodialbail Rambhavan Complex.
Being one of the top 3 banking conglomerates in the country, Canara Bank has a heightened responsibility of protecting the economy and the nation by falling in line with the governmental/central bank strictures and doing what is required to safeguard businesses and rebuild livelihoods.
The NRIs’ contribution to the Indian economy is significant because each transfer increases the country's foreign exchange pool and is the major source of foreign currency inflow. Remittances increase the purchasing power of people which drives the consumption market and moves the demand and supply forward.
India has retained the top position in inward remittance business and Canara Bank is one of the major banks in India receiving inward remittance business. Canara Bank in its role as a leading public sector bank is facilitating all the stakeholders of the nation striving towards achieving the country’s ambitious target of USD 5 trillion economy by 2025. With this background, founder circle of Canara Bank i.e. Mangaluru is proposing to open a specialized NRI branch shortly at Kodialbail Rambhavan Complex specially to cater the banking needs of the NRI customers.
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