Canara Bank opens branch at Chinna Gollapalem

Machilipatnam: Machilipatnam MP and Lok Sabha Subordinate Legislation Committee Chairman Vallabhaneni Bala Shoury stated that banks would be profitable when they provide loans to the eligible. "Wherever there is a bank, there will be development," he said.

The MP inaugurated Canara Bank's new branch at Chinna Gollapalem village of Kruthivennu mandal in Krishna district along with Housing Minister Jogi Ramesh, Chief Minister's Additional Secretary Revu Mutyalaraju, district Collector P Ranjith Basha, district SP P Joshua and Canara Bank MD and CEO K Satyanarayana Raju on Monday.

Addressing the gathering, the MP said that the villagers can draw the welfare schemes' amount from the newly started bank branch. He said Canara Bank is the second largest bank in the country after State Bank of India with a profit of Rs 10,000 crore. Stating that Canara Bank had set up its 638th branch at Chinna Gollapalem, he assured that banks would support businessmen and farmers, who want to do business and other trades. During the meeting, the MP also requested for sanctioning of Mudra, PMEGP and other subsidy loans to the youth.

Minister for Housing Jogi Ramesh said that MP Bala Shoury has been giving enormous support to set up banks and construction of Machilipatnam Port. He said that former CM YS Rajasekhar Reddy had built two bridges for the convenience of the villagers.

Chief Minister's Additional Secretary Revu Mutyalaraju said that due to efforts of Chief Minister YS Jagan Mohan Reddy, around 13 lakh crores of MoUs occurred at Visaka Global Investor Summit for the establishment of industries in the State. This will provide many jobs to the youth, he added. He said that he felt proud to speak in front of his parents as he is from Chinna Gollapalem village.

Vijayawada Circle Canara Bank General Manager K Kalyani, DGM Vijayalakshmi, RDO I Kishore and others participated in the programme.