Canara Bank customers can now earn a better return on fixed deposits. The bank has come out with a special fixed deposit scheme under which it s offering a return of 7.5 per cent. The bank launched its special fixed deposit scheme on October 11.
Canara Bank vs Federal Bank: State-owned Canara Bank posted an 89 per cent increase in its Q2 net profit. On the other hand, Kerala-based private sector lender Federal Bank's profit grew 50 per cent in second-quarter.
On the asset quality front, the bank's gross NPAs fell to 7.51 percent of the gross advances at the end of March 2022, as against 8.93 percent at the end of March 2021.
The filing shows Jhunjhunwala bought a 1.6 per cent stake or 2,90,97,400 shares of the bank in the September quarter. This is his fresh investment in the PSU bank.