Canara Bank inks MoU with Norka Roots: Report

Canara Bank, a leading nationalized bank has reportedly signed Memorandum of Understanding (MoU) with Norka roots to assist the people who lost their jobs in abroad and return back to Kerala. As part of the arrangement, the bank has offered Rs 2.4 crore as seed capital subsidy for the scheme. Canara Bank has posted a fall of 15.79% in its net profit at Rs 610.83 crore for the quarter ended March 31, 2014, as compared to Rs 725.38 crore for the same quarter in the previous year.  However, total income of the bank has increased by 22.57% at Rs 11609.72 crore for quarter under review as compared to Rs 9471.57 crore for the quarter ended March 31, 2013.