Faced with challenges on deposit growth, state-owned Canara Bank asked each of its 82,000-strong staff to go out to garner funds, and mobilised Rs 16,700 crore in ten weeks, a top official has said.
Amid the system-wide challenges of deposit accretion, the bank's top management gave a call to every employee to garner deposits, and the drive began on January 26 this year.
"We had given a call to each of the 82,000 staff members to canvas, contacting their relations and whatever there is in their circle. Each one should bring Rs 10 lakh as a deposit either in CASA (current and savings account) or retail term deposit," its managing director and chief executive K Satyanarayana Raju told PTI.
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