Canara Bank Promotes Five General Managers to Chief General Manager Positions

Canara Bank has announced the promotion of five General Managers to Chief General Manager positions, marking significant management changes across various operational verticals. The bank communicated these developments through an official notification dated April 1, 2026, addressed to both BSE and NSE under reference SD: 564/565/11/12:2026-27.

Promoted Executives and Their Current Roles

The five executives elevated to Chief General Manager positions bring diverse expertise and extensive banking experience to their enhanced roles:

Executive:	Current Position	Banking Experience	Key Qualifications
Shri Subodh Kumar	CGM on Deputation to LIC of India as CVO	Joined March 7, 1994	M.Sc, MBA, Composite Insurance Certification, CAIIB
Shri R Rajesh	CGM, Credit & Prepaid Cards Vertical, Technology Services Wing	Joined July 15, 1991	M.Sc, MBA, CAIIB
Shri Sreekant M Bhandiwad	CGM on Deputation to Karnataka Gramina Bank as Chairman	Joined June 6, 1994	M.Sc, Composite Insurance Certification, CAIIB
Shri I Panduranga Mithanthaya	CGM, Tirupati Circle Head	36+ years experience	B.Com, PG Diploma, MBA, CAIIB
Shri Manoj Kumar Das	CGM, Chandigarh Circle Head	37+ years experience	B.Sc, CAIIB

Professional Background and Expertise

Shri Subodh Kumar currently serves on deputation to LIC of India as Chief Vigilance Officer in Mumbai. His banking career spans experience in handling Large Corporate Branches, International Division, Regional Offices, and various branch operations.

Shri R Rajesh leads the Credit & Prepaid Cards Vertical within the Technology Services Wing at the Head Office in Bengaluru. His operational expertise encompasses Digital Banking Services, Large Corporate Branch operations, Information Technology departments, and Staff Administration.

Shri Sreekant M Bhandiwad has been serving as Chairman of Karnataka Gramina Bank since May 1, 2025. He joined Canara Bank as an Assistant Executive Officer and has gained comprehensive exposure across branches, regional offices, circle offices, and head office operations.

Regional Leadership Experience

Shri I Panduranga Mithanthaya has been heading the Tirupati Circle Office since April 5, 2024. His notable international experience includes a tenure at the bank's London Branch from July 2, 2012, to April 29, 2016. He subsequently worked at Regional Offices from December 3, 2018, to April 22, 2022, before transitioning to Circle Office leadership from April 25, 2022.

Manoj Kumar Das currently heads the Chandigarh Circle Office and brings extensive administrative experience across multiple circle offices including Kolkata, Guwahati, Ranchi, and Agra. He also possesses specialized expertise in Gold Loan Vertical operations at the head office level.

Management Transition Details

The notification, signed by Company Secretary Santosh Kumar Barik, formally communicated these promotions to stock exchanges as part of regulatory compliance under Regulation 30. All five executives have been elevated from their General Manager positions to Chief General Manager roles effective April 1, 2026, reflecting the bank's focus on promoting experienced internal talent to senior leadership positions.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.20%	-6.95%	-19.27%	+2.65%	+41.16%	+306.27%

Canara Bank has submitted mandatory disclosures to stock exchanges regarding its shareholding in subsidiary companies, complying with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure, dated April 1, 2026, provides detailed information about the bank's stakes in three key subsidiaries as of March 31, 2026.

Subsidiary Shareholding Details

Canara Bank serves as the promoter for three major subsidiaries, each listed on both BSE Limited and National Stock Exchange of India Limited. The bank's shareholding positions demonstrate significant ownership stakes across different financial services sectors.

Company	Number of Shares	Ownership Percentage
Can Fin Homes Limited	3,99,30,365	29.99%
Canara HSBC Life Insurance Company Limited	34,67,50,000	36.50%
Canara Robeco Asset Management Company Limited	7,57,73,822	38.00%

Regulatory Compliance Declaration

The bank's disclosure confirms its role as promoter for all three subsidiary companies. Company Secretary Santosh Kumar Barik signed the regulatory filing, ensuring compliance with SEBI's substantial acquisition and takeover regulations. The disclosure specifically addresses requirements under Regulation 31(4), 31(5) and other applicable provisions.

Financial Year 2025-26 Activities

Canara Bank declared that neither the promoter nor any persons acting in concert made any encumbrances, directly or indirectly, during the financial year 2025-26. This declaration provides transparency regarding any potential restrictions or charges on the shareholdings throughout the reporting period.

Subsidiary Business Focus Areas

The three subsidiaries operate in distinct financial services segments:

Can Fin Homes Limited: Housing finance services
Canara HSBC Life Insurance Company Limited: Life insurance products and services
Canara Robeco Asset Management Company Limited: Asset management and mutual fund services

This diversified subsidiary portfolio allows Canara Bank to maintain presence across multiple financial services verticals while maintaining substantial ownership positions in each entity.