Canara Bank inches up on unveiling new products to meet shortfall of hospital expenditure
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Canara Bank is currently trading at Rs. 606.20, up by 0.05 points or 0.01% from its previous closing of Rs. 606.15 on the BSE.
The scrip opened at Rs. 615.30 and has touched a high and low of Rs. 615.30 and Rs. 602.30 respectively. So far 222200 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 615.30 on 04-Apr-2024 and a 52 week low of Rs. 281.40 on 05-Apr-2023.
Last one week high and low of the scrip stood at Rs. 615.30 and Rs. 583.05 respectively. The current market cap of the company is Rs. 109936.29 crore.
The promoters holding in the company stood at 62.93%, while Institutions and Non-Institutions held 25.51% and 11.56% respectively.
Canara Bank has launched a slew of new products, including a loan scheme to meet shortfall of hospital expenditure. A healthcare-focused loan product called Canara Heal is aimed at meeting the shortfall of hospitalisation expenditure while settling through TPA healthcare insurance claims of self and/or dependents. The loan for meeting hospital expenses will be available at 11.55 per cent per annum on a floating basis and 12.30 per cent at fixed interest rate basis. The healthcare loan facility is available for customers whose treatment bill exceeds the insurance limit.
The bank also introduced a customised savings account for women called Canara Angel with unique features such as cancer care policy, pre-approved personal loan Canara ReadyCash and online loan against term deposit product Canara MyMoney. The bank also unveiled 'Canara UPI 123PAY ASI', a user-friendly payment interface, and 'Canara HRMS Mobile App for Staff', an HR management solution for the bank's employees.
Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.
