Public sector major Canara Bank is going to open 105 branches and an equal number of ATMs besides 10 Financial Literacy and Credit Counselling Centres (FLCCC) across the country on Friday to mark its Founders' Day.

The Madurai Circle, comprising eight southern districts, would be getting two new branches and six ATMs besides a FLCCC – Amulya – which is to come up near the Anna Bus Stand here. All these would be declared open by the Union Finance Minister Pranab Mukherjee at New Delhi, according to B.R. Balasunder, Deputy General Manager of Madurai Circle.

The two branches are coming at Gomathipuram and Melur in Madurai district while the ATMs are coming at Jaihindpuram and Peraiyur in Madurai, Allinagaram in Theni, Manamadurai in Sivaganga, Veerakeralampudur and Kayathar in Tirunelveli district.

The Madurai Circle has 125 branches.

Further, the bank would also be disbursing 1,00,000 general credit cards and 50,000 smart cards during the occasion. In Madurai Circle, 10,000 smart cards and 5,700 general credit cards would be issued. A total of 500 self-help groups would be provided credit linkages and 17 new farmers clubs would be formed. A blood donation camp has also been scheduled, he said.

The FLCCCs, being set up under the aegis of Canara Financial Advisory Trust, would impart education on responsible borrowing, educate people on proactive and early savings and provide debt counselling to individuals indebted to formal and informal financial sectors.

He said that the centre would also educate people in urban and rural areas on the various financial products available in the formal financial sector and formulate debt restructuring plans for borrowers in distress.

Retail lending campaign

Mr. Balasunder also informed that Canara Bank would also be conducting a retail lending campaign here on Saturday and Sunday (November 20 and 21). Similar campaigns would also be held simultaneously throughout the Madurai Circle in Kanyakumari, Virudhunagar, Tuticorin, Sivaganga, Tirunelveli and Ramanathapuram.

The campaign would feature stalls for disbursing housing, vehicle and traders loans besides finance for small and medium entrepreneurs and general banking schemes.

Major builders and vehicle dealers would also take part. Legal help desk and Valuers' Desk would also be put up.

A special savings bank account campaign would also be held to offer SB accounts, mutual fund and insurance policies, open demat, trading and CASA accounts.

In Madurai, the campaign would be conducted at MADITSSIA Hall at Dr. Ambedkar Road between 10 a.m. and 7 p.m. on both days, a press release said.


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