Canara Bank has appointed Shambhu Lal and Barun Singh Thakur as Chief General Managers (CGM) with effect from October 1, 2026. The appointments involve a change in designation for both officials, impacting the Human Resources and Inspection wings of the bank.

Shambhu Lal, previously serving as Chief General Manager in the Human Resources Wing, has taken charge as the Head of the Human Resources Wing. He succeeds B P Jatav, who ceased to hold the position upon attaining superannuation on the same date.

Barun Singh Thakur, formerly the General Manager at the Thiruvananthapuram Circle Office, has been promoted to the rank of Chief General Manager. Following this promotion, he has been posted to the Inspection Wing.

Professional backgrounds

Both appointees bring extensive experience in banking operations, having progressed from branch-level roles to head office positions across various states.

The appointments were disclosed to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification cited SEBI Master Circular no. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026, as part of the regulatory compliance framework.

Canara Bank reported a 15.83% year-on-year rise in global business to ₹30.71 lakh crore for the quarter ended September 30, 2026.

Global advances expanded 19.35% YoY to ₹13.74 lakh crore, outpacing the 13.13% growth in global deposits. On a quarter-on-quarter basis, global business grew 5.71%, reflecting sustained momentum from the previous quarter. The disclosure was made under SEBI (LODR) Regulations, 2015, and the Bank’s Code of Conduct for Prohibition of Insider Trading.

Deposit and advance trends

Domestic deposits stood at ₹15.48 lakh crore, registering a 10.96% YoY rise and a 5.05% QoQ increase. Domestic advances grew significantly faster than deposits, climbing 16.83% YoY to ₹12.63 lakh crore. This divergence suggests aggressive credit deployment relative to liability gathering during the quarter.

The Retail and Agri (RAM) segment demonstrated particularly strong performance. Domestic RAM advances surged 21.00% YoY to ₹8.12 lakh crore, indicating a strategic focus on high-yield retail portfolios.

What the numbers show

A comparative analysis of the disclosed figures reveals a widening gap between asset and liability growth rates. While global deposits grew at a steady double-digit pace of 13.13%, global advances accelerated to nearly 20%. This imbalance typically signals a tightening liquidity environment or a deliberate shift towards higher-margin lending products. The bank’s ability to sustain this credit expansion while maintaining deposit growth above 10% suggests effective management of its funding mix despite potential cost pressures.

Note: Figures are provisional and subject to audit or review by the Statutory Central Auditors.