CURRENT AFFAIRS : BANKING & FINANCE
Canara Bank becomes a major lender to State PSUs and corporations in FY23
- Canara Bank topped the list of public sector banks (PSBs) with the highest lending to corporations and public sector undertakings (PSUs) of States and Union Territories (UTs) for the 5th year in a row.
- According to government data, Canara Bank led the lending to government-backed entities, with a total disbursement of ₹187,813 crore in FY23.
- The Lending amount was 11% higher than the ₹1,69,532 crore the state-run bank lent to government entities.
- Canara Bank’s lending to State-run public sector enterprises and corporations alone accounted for over 45% of the total lending of all PSBs.
