Banking industry and people
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Banking industry and people's savings
Ashutosh P Bhupatkar
It is an honour for me to be speaking at this Seminar, which marks the conclusion of the silver jubilee celebrations of the Canara Bank Employees Coop Credit Society. I am struck by the vision that guided the founding of the Canara Bank. I quote below the words of your founder, spoken almost a century ago.
"A good bank is not only the financial heart of the community, but also one with an obligation of helping in every possible manner to improve the economic conditions of the common people"
- A. Subba Rao Pai.
It is clear that the origins of the Canara Bank lay in the desire of the leaders of the community to improve the economic conditions of the common people. Subba Rao Pai went to the extent of saying that it was an obligation of helping the common people. The Bank did not start with the profit motive of a few rich persons. Nor was the Bank an outcome of the desire of a few foreigners to exploit the opportunity to expand, control and earn profits in foreign lands. It was an expression of the common will of a community to better their lot...