Improving low-cost deposit mobilisation focus area for bank: Canara Bank MD

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Improving low-cost deposit mobilisation focus area for bank: Canara Bank MD - Business Standard

Quick Summary:

Rapid growth cannot be expected on the current account side, and it is another challenge to keep them for the long term as businesses tend to move them to term deposits quickly, he said.

Improving CASA or low-cost deposit mobilisation is the focus area for the Canara Bank, and efforts taken in the direction are yielding results, its Managing Director K Satyanarayana Raju has said.

"Current Account Savings Account (CASA) stood at 31 per cent of the total deposits, and the aim is to increase to 33 per cent by the end of the current fiscal," he told PTI.