Canara Bank accepted the resignation of Mahesh M Pai as Chief General Manager, effective September 1, 2026. The bank notified the stock exchanges regarding the change in senior management.

Pai ceased to hold the position on September 1, 2026, after being relieved from services on August 31, 2026. This action followed approval by the Competent Authority.

Regulatory Disclosure

The bank made the disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015. It also referenced SEBI Master Circular no. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026.

The intimation was issued pursuant to the bank’s earlier letter dated July 8, 2026. Santosh Kumar Barik, Company Secretary, signed the communication.

The Board of Directors of Canara Bank has approved the sale of its 70% stake in unlisted subsidiary Canbank Factors Limited to Vidvedaa Private Limited. The transaction is valued at ₹80.50 crore and awaits necessary regulatory and statutory approvals.

The decision was taken during a board meeting held on August 29, 2026. The sale involves the transfer of 100% equity shares of the subsidiary company to the buyer.

Transaction Details

The deal marks a strategic divestment for the public sector lender. Key terms of the agreement include:

The bank informed stock exchanges about the move via a disclosure letter dated August 29, 2026. The reference cited was a previous communication from November 28, 2023, regarding subsidiaries.

What the Numbers Show

The fixed consideration of ₹80.50 crore for a 70% stake implies a total implied valuation of approximately ₹115 crore for Canbank Factors Limited, though this figure is not explicitly stated in the filing. The transaction remains contingent on external regulatory clearances, meaning no cash inflow or accounting impact will be recognized until those conditions are met.