Canara Bank’s 82,000 Employees Raised Rs.16,700 Crore in Just 10 Weeks
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In today’s competitive banking world, growing deposits is no easy task. But Canara Bank, one of India’s largest public sector banks, found an inspiring way to tackle this challenge—by turning to its greatest strength: its employees.
Faced with slow deposit growth and rising credit demand, Canara Bank launched a unique deposit mobilisation drive in January 2025. What made this drive different? Instead of relying on traditional advertising or offers, the bank asked all 82,000 of its employees to personally reach out and bring in deposits. And the results were nothing short of remarkable—Rs 16,700 crore collected in just 10 weeks.
A Personal Mission for Every Employee
The initiative kicked off on January 26. The bank’s top leadership, including Managing Director and CEO K Satyanarayana Raju, reached out directly to staff members with a simple request: each employee should aim to bring in Rs 10 lakh as deposits—either in savings/current accounts (CASA) or in fixed deposits.
Employees were encouraged to approach their family, friends, neighbours, and personal networks. It wasn’t just a campaign—it became a mission that every staff member took to heart. Click here to read more news.
Why the Employees Responded So Strongly
The impressive response from employees wasn’t just out of duty—it stemmed from a sense of trust and belonging. Over the past 2–3 years, Canara Bank has worked to create a more transparent and supportive environment for staff, including fairer promotions, clearer transfer policies, and recognition for good performance.
These efforts paid off when it mattered most. Employees didn’t just follow instructions—they stepped up enthusiastically. Even trade unions supported the move.
The Results Speak for Themselves
Thanks to the commitment of its staff, the bank collected Rs 16,700 crore in deposits during the drive. What’s more, the amount was evenly split between CASA and term deposits, showing a balanced and stable growth in funds.
This helped the bank bring down its credit-deposit (CD) ratio to 73% in March 2025, compared to 76% in December 2024. Lowering the CD ratio is a big win—it gives the bank more room to lend responsibly without overstretching its resources.
It also reduced the bank’s dependence on bulk deposits (large, high-cost deposits from institutions), which dropped from 25% to 23%. This shift means more sustainable, low-cost funds for the bank in the long term. Click here to read more news.
More Than Just Numbers
Mr. Raju made it clear that this drive wasn’t just about hitting deposit targets for the quarter. “This has helped us connect better with our customer base,” he said. Many of the new depositors are staying with the bank, which shows growing trust and long-term relationships. Click here to read more news.
What’s Next?
Encouraged by this success, Canara Bank now plans to focus on monthly recurring deposit schemes to continue growing its deposit base in a consistent and customer-friendly way.
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