Canara Bank’s new services

MUMBAI: Canara Bank launched a specialised service for managing receivables for its corporate clients. The scheme targets the corporate customers and will provide definite funds flow for the various collection instruments ensuring better cash management.

Under the superfast service of the cash management product, funds are credited to the customers’ account on the same day as instruments are lodged. The funds are pooled at the designated account of the party at specified locations.

On the other hand, the fast-track service allows companies to lodge instruments drawn on any location at any of the select centres. The funds in this service will also be pooled at the designated branch of the corporates.