Ammembal Subba Rao Pai Founder of Canara Bank
Biography of Ammembal Subba Rao Pai
Early Life
Ammembal Subba Rao Pai founder of Canara Bank was born inMulky, Mangalore, India on 19th of November 1852. He did his schooling from the Government High School, Mangalore. He was very serious to his studies after the death of his mother. He also completed his F. A. from the same institute. After completing his F. A. he was sent to Madras by his father for higher studies. He completed his higher studies in the field of Law from the Presidency College and Madras Law College.
Founder of Canara Bank
After completing his studies he started practicing law but he was very concerned about the poor people and was a philanthropist. Keeping the high interest rates of bank in his mind, he started a bank with the name of the Canara Hindu Permanent Fund in 1906 for the support of poor people of India.
Canara Bank
Canara Bank is a state owned bank of India. Its headquarters is located in Bangalore, Karnataka, India. This bank was founded in 1906 as the Canara Hindu Permanent Fund. This bank comes into the list of the oldest banks of India. This bank went through the process of nationalization in 1969 and after that process it was renamed to Canara Bank. There are five thousand one hundred and eleven branches of the bank which are working throughout the country with the facility of over six thousand ATMs. This is also under the operational mode in other countries of the world. These countries included London, Moscow, Hong Kong, Shanghai, Dubai, and Doha. As far as rating is concerned this bank is ranked 816th in the list of Forbes Global 2000.
Death
He suffered from severe gout throughout his life. After suffering from this disease he finally died in 25th of July, 1909.
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