Canara Bank emerged the winner among the private and public sector banks in achieving all the targets set under  digital payments for the financial year. 

The bank got an award from the Ministry of Electronics and information Technology (MeitY) for achieving top position in overall performance among 44 banks. 

Canara Bank managing director and CEO Satyanarayana Raju received the award from Ashwini Vaishnaw, Minister of Electronics & Information Technology, Railways and Communications, at a function held at  Stein Auditorium in the India Habitat Centre, New Delhi  on 9 February.

Canara Bank achieved 131% of the digital transactions target set by MeitY and 116% of new merchant acquisition during the previous FY 2021-22 and ranked No.1 amongst 44 banks by getting an overall score of 92.

As India celebrates ‘Azadi ka Amrit Mahotsav’ and ‘G20 Presidency’, MeitY pushed for an easier access to easy and convenient digital payment solutions to all citizens, with particular focus on inclusion of the hard-to-reach geography and population, including small merchants and street vendors.

A comprehensive campaign, 'Digital Payments Utsav', is planned starting 9 February to 9 October 2023, in coordination with all stakeholders for promotion of digital payments across the country, with particular focus on G20 Digital Economy Working Group (DEWG) event cities, namely Lucknow, Hyderabad, Pune and Bengaluru. 

During the event the bank also formally launched the Canara ai1 Merchant App, a unique digital payment solution for Canara Bank merchants.