Canara Bank Revises MCLR Across All Tenors Effective May 12, 2026

1 min read     Updated on 12 May 2026, 03:39 AM
scanx
Reviewed by
Anirudha BScanX News Team
AI Summary

Canara Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) across all seven tenors, effective May 12, 2026, with each tenor seeing an upward revision of 5 basis points. The One Year MCLR, a key benchmark for retail lending, has been revised from 8.70% to 8.75%. The Three Year MCLR now stands at 9.05%, up from 9.00%. The revision was disclosed to stock exchanges under Regulation 30 by Company Secretary Santosh Kumar Barik on May 11, 2026.

powered bylight_fuzz_icon
40082981

*this image is generated using AI for illustrative purposes only.

Canara Bank has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenors, effective May 12, 2026. The bank communicated this development to the stock exchanges through a regulatory filing dated May 11, 2026, signed by Company Secretary Santosh Kumar Barik.

Revised MCLR Rates Effective May 12, 2026

The updated MCLR schedule reflects an upward revision across all seven tenors. The following table outlines the existing rates alongside the revised rates:

Tenor: Existing Rate (%) Rate w.e.f. 12.05.2026 (%)
Overnight MCLR 7.85 7.90
One Month MCLR 7.90 7.95
Three Month MCLR 8.15 8.20
Six Month MCLR 8.50 8.55
One Year MCLR 8.70 8.75
Two Year MCLR 8.95 9.00
Three Year MCLR 9.00 9.05

Key Highlights of the Revision

  • All seven MCLR tenors have been revised upward by 5 basis points each.
  • The Overnight MCLR moves from 7.85% to 7.90%.
  • The One Year MCLR, a widely referenced benchmark for retail loans, increases from 8.70% to 8.75%.
  • The Three Year MCLR rises from 9.00% to 9.05%.
  • The revised rates are applicable with effect from May 12, 2026.

Regulatory Communication

The revision was disclosed under Regulation 30 and communicated to both BSE Ltd. and the National Stock Exchange of India Ltd. by Canara Bank's Secretarial Department, headquartered at 112 J C Road, Bengaluru - 560002. The filing was digitally signed by Company Secretary Santosh Kumar Barik on May 11, 2026.

Historical Stock Returns for Canara Bank

1 Day5 Days1 Month6 Months1 Year5 Years
-0.58%-3.76%-7.77%-9.97%+28.16%+324.64%

How might Canara Bank's 5 basis point MCLR hike influence other public sector banks to revise their lending rates in the near term?

What impact will the increased One Year MCLR of 8.75% have on Canara Bank's retail loan disbursements and home loan demand going forward?

Could this MCLR revision signal a broader shift in the Indian banking sector's interest rate cycle, contradicting expectations of RBI rate cuts in 2026?

Canara Bank Submits Annual Secretarial Compliance Report for Financial Year Ended March 31, 2026

3 min read     Updated on 07 May 2026, 01:15 PM
scanx
Reviewed by
Naman SScanX News Team
AI Summary

Canara Bank submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2026, to the stock exchanges on May 7, 2026, under Regulation 24A of SEBI (LODR) Regulations, 2015. The report, issued by M/s Ragini Chokshi & Co., Company Secretaries, Mumbai, confirmed full compliance with all applicable SEBI regulations and circulars, with no deviations, violations, or non-compliances recorded during the review period. There were also no pending observations from prior compliance reports. The report was submitted under reference number SD/65/66/11/12:2026-27 by Company Secretary Santosh Kumar Barik.

powered bylight_fuzz_icon
39685527

*this image is generated using AI for illustrative purposes only.

Canara Bank has filed its Annual Secretarial Compliance Report for the financial year ended March 31, 2026, with the stock exchanges on May 7, 2026. The report has been submitted in accordance with Regulation 24A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Circular CIR/CFD/CMD1/27/2019 dated February 8, 2019. The compliance report was issued by M/s Ragini Chokshi & Co., Company Secretaries, Mumbai, and submitted by Company Secretary Santosh Kumar Barik.

Scope of Examination

The practicing company secretaries examined all documents, records, filings, and submissions made by Canara Bank to the stock exchanges, as well as the bank's website and other relevant documents for the review period ending March 31, 2026. The examination covered compliance with the SEBI Act, 1992, the Securities Contracts (Regulation) Act, 1956, and a range of specific SEBI regulations. The following regulations were reviewed as part of the compliance assessment:

  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • SEBI (Prohibition of Insider Trading) Regulations, 2015
  • SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021
  • SEBI (Depositories and Participants) Regulations, 2018
  • SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 (to the extent applicable)
  • SEBI (Merchant Bankers) Regulations, 1992
  • SEBI (Banker to Issue) Regulations, 1994
  • SEBI (Investor Protection and Education Fund) Regulations, 2009

Certain regulations — including SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018; SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021; SEBI (Delisting of Equity Shares) Regulations, 2021; and SEBI (Buyback of Securities) Regulations, 2018 — were noted as not applicable to the bank during the period under review.

Compliance Status: No Deviations Recorded

The report confirms that Canara Bank complied with all applicable SEBI regulations and circulars during the financial year ended March 31, 2026, with no deviations, violations, or non-compliances identified. There were also no pending observations from previous secretarial compliance reports requiring remedial action. The key compliance parameters reviewed are summarised below:

Parameter: Compliance Status
Adoption and timely updation of Policies Yes
Maintenance and disclosures on Website Yes
Details related to Subsidiaries Yes
Preservation of Documents Yes
Performance Evaluation Yes
Related Party Transactions (Audit Committee approval) Yes
Disclosure of events or information (Regulation 30) Yes
Prohibition of Insider Trading (Regulation 3(5) & 3(6)) Yes
Actions taken by SEBI or Stock Exchanges Yes
Secretarial Standards (SS issued by ICSI) N.A.
Disqualification of Director (Section 164, Companies Act, 2013) N.A.
Resignation of Statutory Auditors N.A.
Additional Non-compliances N.A.

The Not Applicable status for Secretarial Standards and Director Disqualification reflects the fact that Canara Bank is constituted under the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970, and the provisions of the Companies Act, 2013 are not applicable to the bank.

Report Certification Details

The Annual Secretarial Compliance Report was issued by Ragini Chokshi of M/s Ragini Chokshi & Co., Company Secretaries, Mumbai, and digitally signed on May 6, 2026. The relevant certification details are as follows:

Detail: Information
Issuing Firm M/s Ragini Chokshi & Co., Company Secretaries
Signing Authority Ragini Chokshi
FCS No. 2390
CP No. 1436
UDIN F002390H000293758
Peer Review No. 4166/2023
Firm Registration No. 92897
Place Mumbai
Date of Signing May 6, 2026

The report was submitted to the stock exchanges by Company Secretary Santosh Kumar Barik on May 7, 2026, under reference number SD/65/66/11/12:2026-27. The practicing company secretaries noted that this report is solely for the purpose of compliance under Regulation 24A(2) of the SEBI (LODR) Regulations, 2015, and does not constitute an audit or an expression of opinion on the financial records of the bank.

Historical Stock Returns for Canara Bank

1 Day5 Days1 Month6 Months1 Year5 Years
-0.58%-3.76%-7.77%-9.97%+28.16%+324.64%

How might Canara Bank's consistent regulatory compliance record influence its credit ratings and ability to raise capital through non-convertible securities in FY2027?

Given that share buyback and employee stock benefit regulations were not applicable to Canara Bank this year, are there any regulatory or legislative changes being considered that could extend such provisions to public sector banks?

How could potential amendments to SEBI's Listing Obligations and Disclosure Requirements regulations impact compliance burdens for public sector banks like Canara Bank in upcoming financial years?

More News on Canara Bank

1 Year Returns:+28.16%