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Canara Bank, established in 1906 as Canara Bank Hindu Permanent Fund [1] in Mangalore, India, by Ammembal Subba Rao Pai, is one of the oldest and major commercial banks of India. Its name was changed to Canara Bank Limited in 1910. The bank, along with 13 other major commercial banks of India, was nationalised on 19 July 1969, by the Government of India. In 1985, Canara Bank acquired Lakshmi Commercial Bank in a rescue.
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