Canara Bank joins IMPS with soft launch

Canara Bank joins IMPS with soft launch

This is a bit exciting news. Canara Bank has a wide branch network of 3200+ branches. This wide network of branches should be able to boost the IMPS volumes. However, a bit of innovative marketing from Canara Bank field staff will enable this job to be achieved soon.

Canara Bank was born in 1906, was nationalized in 1969. It was the first public sector bank to join the MasterCard ATM Network way back in 2000.

Canara Bank sponsors 3 Regional Rural Banks (RRB’s)  - Pragathi Gramin Bank, Karnataka, South Malabar Gramin Bank, Kerala, and Shreya Gramin, Uttar Pradesh.

Recently it has engaged Wipro to implement a Core Banking Solution for the above 3 RRB’s. The 3 RRB’s have a combined branch network of 900 branches. And the day is not far off, when this 3 RRB’s will be access to the ATM’s/RTGS/NEFT channels via Canara Bank.

Of course, IMPS too is also a possibility.