Canara Bank

Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country. The government nationalized the bank in 1969. As of November 2015, the bank had a network of 5784 branches and more than 9153 ATMs spread across India. The bank also has offices abroad in London, Hong Kong, Moscow, Shanghai, Doha, Dubai, and New York.

History

Ammembal Subba Rao Pai, a philanthropist, established the Canara Hindu Permanent Fund in Mangalore, India, on 1 July 1906. The bank changed its name to Canara Bank Limited in 1910 when it incorporated.

Canara Bank's first acquisition took place in 1961 when it acquired Bank of Kerala. Bank of Kerala had been founded in September 1944 and at the time of its acquisition on 20 May 1961 had three branches. The second bank that Canara Bank acquired was Seasia Midland Bank (Alleppey), which had been established on 26 July 1930 and had seven branches at the time of its takeover.

Bank

A bank is a financial institution that creates credit by lending money to a borrower, thereby creating a corresponding deposit on the bank's balance sheet. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial system and influence on national economies, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.

Banking in its modern sense evolved in the 14th century in the rich cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had their roots in the ancient world. In the history of banking, a number of banking dynasties — notably, the Medicis, the Fuggers, the Welsers, the Berenbergs and the Rothschilds — have played a central role over many centuries. The oldest existing retail bank is Monte dei Paschi di Siena, while the oldest existing merchant bank is Berenberg Bank.

User identifier

Unix-like operating systems identify a user within the kernel by a value called a user identifier, often abbreviated to user ID or UID. The UID, along with the group identifier (GID) and other access control criteria, is used to determine which system resources a user can access. The password file maps textual user names to UIDs, but in the kernel, only UIDs are used. UIDs are stored in the inodes of the Unix file system, running processes, tar archives, and the now-obsolete Network Information Service. In POSIX-compliant environments, the command-line command id gives the current user's UID, as well as more information such as the user name, primary user group and group identifier (GID).

Process attributes

The POSIX standard introduced three different UID fields into the process descriptor table, to allow privileged processes to take on different roles dynamically:

Effective user ID

The effective UID (euid) of a process is used for most access checks. It is also used as the owner for files created by that process. The effective GID (egid) of a process also affects access control and may also affect file creation, depending on the semantics of the specific kernel implementation in use and possibly the mount options used. According to BSD Unix semantics, the group ownership given a newly created file is unconditionally inherited from the group ownership of the directory in which it is created. According to AT&T UNIX System V semantics (also adopted by Linux variants) newly created files will normally be given the group ownership of the egid of the process that creates them. Most filesystems implement a method to select whether BSD or AT&T semantics should be used regarding group ownership of newly created files, BSD semantics is selected for specific directories in case that the S_ISGID (s-gid) permission is set.