Canara Bank in the fourth quarter reported sequentially better numbers on asset quality
The bank reported a March quarter net profit of Rs 214 crore
RBI had come out with stringent guidelines for exchanging these notes with new ones
The entrance examination is likely to be held in May-June 2017
Divestment is seen as a part of the monetisation process of non-core assets of Canara Bank
Board has given approval for the sale of 13.45 per cent stake in the mortgage firm
Proceeds will be utilised to fund business growth
The Bangalore-based state lender had a net profit of Rs 84.9 crore for the Oct-Dec quarter of FY16
The bank doubled provisions on non performing assets to 9.81% in the quarter as against 4.27% a year ago
Net NPAs also increased to 6.69 per cent of net advances as against 2.9 per cent in the same quarter last year
It is available for download from Google play store, and was launched at the Board of Directors' conclave
The bank said separately that, RBI has imposed a penalty of Rs 2 crore on it for violation of anti-money laundering norms
However, shares of bank closed at 253.70 per unit up 5.31% on the BSE
Bank's gross NPAs during quarter soar to 9.4% as against 3.89% during same period in the preceding fiscal
Gross NPAs jumped to 9.4% as of March 31, from 5.84% in December
Several banks including country's largest lender SBI have announced changes in their MCLR rates
The issue was opened on April 18, 2016 and closed on April 27, 2016