Canara Bank has informed stock exchanges that branch operations may be affected by upcoming strikes called by the United Forum of Bank Unions (UFBU). The industrial action is scheduled for multiple dates in September and October 2026.

The bank disclosed the notice under SEBI (LODR) Regulations, 2015, citing a decision by the UFBU, which comprises seven unions including AIBEA, AIBOC, BEFI, NCBE, AIBOA, INBEF, and INBOC.

Strike Schedule

The unions have announced the following dates for industrial action:

Operational Impact

Canara Bank stated it is taking necessary steps to ensure the smooth functioning of its branches and offices on the specified days. However, the bank cautioned that if the strikes materialize, the functioning of branches and offices may be affected.

The notice was issued by Santosh Kumar Barik, Company Secretary, on September 10, 2026.

Canara Bank has decided to exercise the call option on its Basel III compliant Additional Tier I bonds with a total face value of ₹4,000 crore. The bank notified stock exchanges of this decision on September 4, 2026.

The redemption is subject to the approval of the Reserve Bank of India and other relevant regulatory authorities. The bonds carry interest rates ranging from 8.05% to 8.40% per annum.

Bond Details

The call option applies to three separate tranches of Additional Tier I (AT1) bonds issued in late 2021 and early 2022. The record dates for these instruments are scheduled for October and November 2026, with one tentative date for February 2027.

*The record date for the first tranche is tentative and subject to confirmation.

Regulatory Context

This action follows previous intimations sent by the bank via letters dated January 14, 2026, and September 3, 2026. The exercise of the call option allows the bank to redeem these capital instruments before their final maturity, assuming regulatory clearance is granted.