GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1910
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1912
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1914
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1916
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Detailed explanation-1: -It is Founded as ‘Canara Bank Hindu Permanent Fund’ in 1906, by late Shri Ammembal Subba Rao Pai, a philanthropist, this small seed blossomed into a limited company as ‘Canara Bank Ltd. ‘ in 1910 and became Canara Bank in 1969 after nationalisation.
Detailed explanation-2: -In March 2007, the Pigmy Deposit scheme was relaunched as Pigmy 2007. The older scheme was also continued as Pigmy 1928. By March 2015, the bank had opened 3552 branches. On 30 August 2019, Finance Minister Nirmala Sitharaman announced that Syndicate Bank would be merged with Canara Bank.
Detailed explanation-3: -Widely known for customer centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka.