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Canara Bank had a credit to deposit ratio of approximately 64.76 percent at the end of fiscal year 2022, down from about 69 percent in the 2020 fiscal year. The overall CD ratio for Indian public sector banks was at a rate of approximately 64 percent that year.

The credit to deposit ratio is an important first indication to gauge a bank's health, as it shows how much of a bank's core funds are being used for lending. A very high ratio indicates pressure on resources as well as capital adequacy issues; while a very low ratio can mean that the bank is not using its available resources optimally.