The Canara Bank on Thursday informed the Bombay high court that it has withdrawn its order classifying as "fraudulent" the loan account of a firm linked to industrialist Anil Ambani. After the bank's disclosure, a bench of Justices Revati Mohite Dere and Neela Gokhale disposed of the petition filed by Ambani challenging the bank's order, saying nothing survives in it.
'Afterwards, some improvement is expected.'
Led by the country's biggest lender State Bank of India (SBI), public sector banks logged a record cumulative profit of Rs 52,603 crore in the third quarter of the current fiscal, reflecting an 18 per cent year-on-year growth.
Canara Bank proved a strong mover, surging 7.4% to Rs 63.15 in morning trades on Tuesday, after the bank said net profit jumped 83% for the third quarter ended 31 December 2002.
And will sell its 50 per cent stake to State Bank of India in Russia as part of rationalisation of overseas branch network.
Both Allahabad Bank and Canara Bank are in the race to acquire United Western Bank, UWB. C Mahajan, CMD of Allahabad Bank and MBN Rao, CMD of Canara Bank extrapolate on the benefits of taking over UWB. \n\n
Aiming at about Rs 1,60,000 crore business this fiscal, Canara Bank will soon upgrade its Hong Kong subsidiary into a branch and open representative offices in China and Dubai.
Canara Bank on Wednesday announced 0.5-0.75 per cent cut in housing loans rates to 8.5-9.25 per cent with monthly installment payments coming down to Rs 911 per lakh for 20-year loan from February.
Canara Bank, India's second largest public sector bank, is all set for an aggressive play in the venture capital business.
Following the footsteps of State Bank of India and ICICI Bank, Canara Bank has classified its loan to Dabhol Power Company as a non-performing asset.
Canara Bank on Thursday indicated a 0.25 per cent cut in home loans taken from the bank for a period upto 10 years, showing that the home loan rates might not have bottomed out yet.
Canara Bank is expected to list its shares in major bourses on a positive note this week as the bank's Rs 385 crore initial public offer was overscribed by 1.9 times.
Canara Bank entered into an agreement with AVIVA Life Insurance Co Pvt Ltd to act as corporate agent for selling AVIVA life insurance products without risk participation.
Canara Bank on Wednesday reported a net profit of Rs 1,338 crore (Rs 13.38 billion) during 2003-04, up by 31.31 per cent over Rs 1,019 crore (Rs 10.19 billion) in the previous fiscal.
The High Court of Justice in London has rejected a fresh bail petition filed by diamantaire Nirav Modi, who is wanted in India in connection with the Rs 13,000 crore Punjab National Bank (PNB) fraud case.
Canara Bank may look to divest another 22 per cent of government stake during the next round of capital restructuring that is likely to take place by the end of the current year, its Chairman and Managing Director R V Shastri said on Monday.
"Canara Bank is the lead banker of lenders' consortium to DCH and the bank is conducting forensic audit of DCH," Financial Services Secretary D K Mittal told reporters.
Opening up the corner office is fine, but will the government be able to attract talent without giving a market-rate salary?, asks Tamal Bandyopadhyay.
A national rollout will take place after the pilot test in which SBI, PNB, Axis Bank, Bank of Maharashtra, Canara Bank, Kotak Mahindra Bank, IndusInd Bank, ICICI Bank, HDFC Bank, Indian Overseas Bank and Punjab & Sind Bank are participating.
Sources close to the development said the chairmen of both banks would meet shortly, after which the matter would be taken up by the respective boards and employees would be consulted.
Canara Bank has put on hold its plan to sell non-performing assets with realisation value of around Rs 250 crore (Rs 2.5 billion) after lukewarm response from asset reconstruction companies (ARCs).
Finance Minister Nirmala Sitharaman on Thursday said the country needs big and world-class banks, and discussions are on with the Reserve Bank and lenders in this regard.
Canara Bank has reduced the floating and fixed home loan interest rates, as also rates of auto loans and other personal loan products, with effect from Wednesday.
State-run Canara Bank on Monday reported its fourth-quarter net profit rose 12 per cent from a year earlier, driving its shares higher in a subdued market.
The Indian banking sector could be due for a rise in profitability after several quarters of net interest margin (NIM) compression. The Q2FY26 results suggest NIMs have bottomed out.
Canara Bank said it received government approval to raise Rs 5000 million towards tier II capital.
Finance Minister Nirmala Sitharaman on Tuesday allayed apprehension that privatisation of state-owned banks would hurt financial inclusion and national interest. She said the bank nationalisation done in 1969 has not yielded the desired result as far as financial inclusion was concerned.
In November, six primary market issuances accounted for more than 13,000 crore of net equity investments by MFs.
In order to optimise branch efficiency, public sector banks (PSBs) are reworking their strategies to streamline operations and reduce cost amid changing customer behaviour. The strategies include closing or merging low traffic branches and reducing their size in smaller centres.
Private sector banks slipped in market capitalisation (mcap) during the July-September quarter, underperforming their government-owned peers as trade uncertainties dragged market sentiment, said S&P Global Market Intelligence. According to its analysis, HDFC Bank shed 4.8 per cent in mcap during the third quarter, while ICICI Bank's dropped 6.7 per cent.
Honouring a cheque bearing forged signature would amount to deficiency in service of a bank, which would have to pay compensation to account holder for the monetary loss, a consumer court said.
Public-sector banks (PSBs) are attracting the attention of investors and the PSU Bank Index has gained nearly 10 per cent in the past month. PSBs have seen return on assets (RoA) climbing to 1 per cent in 2024-2025 (FY25) and margins are believed to have moved up further in the first half of this financial year (H1FY26) with asset quality remaining stable.
After a gap of about five years, a public sector bank (PSB) has decided to rope in a cricketer to boost its brand.
State Bank of India-led public sector banks posted a record cumulative profit of Rs 49,456 crore in the second quarter of the current fiscal, reflecting a 9 per cent year-on-year growth despite two lenders reporting a decline. All 12 public sector banks (PSBs) together made a profit of Rs 45,547 crore in the September quarter of FY25.
Each employee is generating more business than before -- driven by cost rationalisation, digital adoption, and better resource utilisation -- signalling a stronger foundation for sustainable growth and profitability.
The IBPS clerk application form for 2025 will be released on July 31. The IBPS Clerk preliminary exam 2025 is scheduled to be held on October 4, 5 and 11.
Home purchase affordability has improved in the first half of calendar year (CY) 2025, after the RBI reduced the repo rate by 100 basis points (bps), according to real estate consultancy Knight Frank India.
Some public sector banks, including State Bank of India (SBI), Union Bank of India, Canara Bank, and Bank of India, are increasing the spread on home loans for new customers to protect margins.
State-owned banks are prioritising local language skills in their hiring to improve customer service and reduce language barriers.
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