Tag: Manimekhalai

Government extends the tenure of Canara Bank, Bank of India executive directors by two years, BFSI News, ET BFSI

Banking & Finance

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The government has extended the tenure of two executive directors of Canara Bank and Bank of India for two years, the state-run lenders said on Monday. Canara Bank in a regulatory filing said that the central government has extended the term of office of A Manimekhalai, Executive Director, for a period of two years beyond her currently notified terms that expires on 10 February 2022, or until further orders, whichever is earlier.

Bank of India in a separate filing said that the term of office of P R Rajagopal, Executive Director, has been extended for a period of two years, beyond his currently notified term or until further orders, whichever is earlier. His current term was to expire on February 28, 2022, the bank said.

The banks said the government informed them about the extension given to these executive directors through notifications on August 26, 2021.

The government last week extended the term of executive directors of various public sector banks. It also extended the terms of MD & CEOs of Punjab National Bank and Bank of Maharashtra.



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Cannot afford lockdown, take precautions: Canara Bank ED

Banking & Finance

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Karnataka’s annual credit plan (ACP) outlay has been increased by 35.78 percent at ₹4.96-lakh crore for financial year (FY) 2021-22, as compared with ₹3.65-lakh crore in FY 2020-21.

Total priority sector credit is fixed at ₹2.92-lakh crore, an increase of 14.24 percent over the previous year’s ₹2.55-lakh crore. Share of agriculture credit is fixed at ₹1.25 lakh crore, constituting 43.09 percent of total priority sector credit. Crop production credit is ₹71,923.31 crore comprising 57.09 percent of total agriculture credit. The share of MSME is ₹1.11-lakh crore, education loan is ₹5,969.86 crore, housing loan ₹30,164.89 crore and other sectors ₹9,498.22 crore.

Speaking after launching the State’s ACP 2021-22, Manimekhalai, Executive Director of Canara Bank said “ The country is on the verge of one more uncertainty but cannot afford one more lockdown, we have to be more careful, should take all precautionary measures and continue to observe all Covid protocols.”

“All stakeholders have to put in efforts for survival and revival of the economy,” she added.

Talking about providing immediate relief to the vulnerable and affected segments, Manimekhalai, said “Central government has come out with many schemes to rebuild economy with the help of State government, RBI and NABARD through schemes like agriculture infrastructure fund, coverage of 10,000 FPOs, formalisation of micro food processing enterprises (FME) with ODOP (One District One Product) concept etc.”

The State as a whole has achieved 80.62 percent of ACP under MSME, 77.97 percent under agriculture and 102.27 percent under total credit at the end of the third quarter of FY 2020-21.

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