Daijiworld Media Network- Mangaluru (VP)

Mangaluru, Dec 28: Canara Bank's regional office, Mangaluru held the inauguration of 'NRI Meet 2023' on Thursday, December 28 at Ocean Pearl Hotel, Mangaluru.

This event was inaugurated by B Sudhakar Kotary, general manager, RO, Mangaluru. He said, "When NRIs visit India, they will have fixed plans and NRI customers are close to our hearts. We believe that we should serve our clients overseas and as per business, Canara Bank is the fourth largest bank globally and the third largest bank in India. Even the merger undertaken three years ago was welcomed by our customers. And in December, we crossed over Rs 20,000 crore and the bank has earned a net profit of Rs 10,000 crore."

"The bank is growing exponentially and we have integrated technology into our functioning. I would like to tell all customers that except for locker services, all the remaining services are available on the bank’s mobile app. We are having 55,000 NRI customers from Mangaluru and around 2,000 new accounts have been opened recently. After Kerala, the highest NRI base is in Mangaluru. During the last year, we got Rs 2000 crore from NRIs as deposits. In the capital market as well, Canara Bank stock which was trading at around Rs 80 a few years ago, has touched around Rs 450. I urge those investors who are holding the bank’s shares, to continue holding them since the bank’s financial fundamentals are strong,” he said.

Gaurav R Hegde, chartered accountant and partner of A R Hegde and Co, and tax expert joined the event as a chief guest. He said, "Generally, for almost two years, you can use the NRE account. But as soon as you return to India, it is advisable to close the NRE account and convert the same. When you are looking for opportunities to invest your money, it is better to consult the Canara Bank staff. India is growing towards becoming a 5 trillion dollar economy and when Japan went from being a 2 trillion dollar to a 5 trillion dollar economy, opportunities for Japan rose. While investing it is important to know the risk factors and if investors are ready to take risks, their money can be invested in mutual funds, hedge funds, insurance and real estate sectors."

Canara Bank regional head, Mangaluru Anthony Raj Y welcomed. Sreekanth V K, deputy general manager, Mangaluru proposed the vote of thanks. P V Jaykumar, deputy general manager, circle office, Mangaluru was also present.