Ammembal Subba Rao Pai

Ammembal Subba Rao Pai
Born Ammembal Subba Rao Pai
1852
Died 1909

Ammembal Subba Rao Pai (1852–1909) was a leading lawyer of Mangalore, India. He was the founder of Canara Bank, now one of India's leading banks, and Canara High School in Mangalore.

Business career

Concerned about the high interest rates being charged by moneylenders to the poor people of South Canara, Pai founded the Canara Hindu Permanent Fund Ltd. (now Canara Bank) on 1 July 1906, not long after the formation of Corporation Bank in the same area.[1]

References

  1. ↑ Budhiraja, S. B.; M. B. Athreya, eds. (2002). Cases In Strategic Management. Tata McGraw-Hill Education. pp. 108–109. ISBN 9780074620977.
  • "Canara Bank going strong after 100 years in business". The Hindu. 2 July 2005.
  • Canara Bank
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