Canara Bank has successfully completed the annual interest payment and full redemption of its Basel III Compliant Additional Tier I Bonds, totaling ₹1,773.98 crores on December 31, 2025. The bank made the payments on the scheduled due date through various electronic modes including RTGS, NEFT, IBA, and demand draft to bondholders' bank accounts.

Bond Payment Details

The total payment comprised two components: annual interest payment of ₹138.98 crores and full redemption amount of ₹1,635.00 crores for the unsecured, non-convertible, perpetual, subordinated Basel III Compliant Additional Tier I Bonds carrying ISIN number INE476A08100.

Interest Payment Specifications

The annual interest payment was processed according to the bond terms with a record date of December 16, 2025. The bank maintained its annual payment frequency as originally structured, with no changes to the payment schedule.

Bond Redemption Process

The bonds underwent full redemption through call option on December 31, 2025. A total of 16,350 non-convertible debentures were redeemed, representing the complete outstanding issue. The redemption was processed through call option for these perpetual bonds, with no outstanding amount remaining after the payment.

Special Payment Consideration

The bank noted that payment towards one investor has been kept on hold as per freeze order Ref No ECIR/BGZO/25/2025 dated November 21, 2025, issued by the Enforcement Directorate against the investor. All other bondholders received their payments as scheduled.

Regulatory Compliance

The payment confirmation was issued in compliance with Regulation 57 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The bank notified the exchanges about the timely completion of both interest and redemption payments, ensuring full transparency and regulatory adherence.

With the successful completion of this payment, Canara Bank has fulfilled all obligations related to these Basel III Compliant Additional Tier I Bonds, marking the end of this debt instrument's lifecycle.

Canara Bank has announced a key leadership transition with the appointment of Shri Hardeep Singh Ahluwalia as additional charge Managing Director and Chief Executive Officer, effective January 1, 2026. The appointment comes following the superannuation of the current MD & CEO, Shri K. Satyanarayana Raju, on December 31, 2025.

Leadership Transition Details

The appointment has been made through a notification from the Department of Financial Services, Ministry of Finance, Government of India, dated December 30, 2025. Ahluwalia, who currently serves as Executive Director at Canara Bank, will assume the additional responsibilities for an interim period.

Professional Background

Hardeep Singh Ahluwalia brings over three decades of banking experience to the role. He began his banking career as an Agricultural Field Officer on March 30, 1992, at Allahabad Bank (now Indian Bank). His educational qualifications include a graduate degree in Agriculture and certification as a Certified Associate of the Indian Institute of Bankers.

Ahluwalia has enhanced his expertise through specialized training, including:

• Certification in Credit Management from NIBM Pune
• Diploma in Computer Applications in Financial Management
• Leadership Development Programme from IIM Bangalore, curated by Banks Board Bureau in consultation with IBA

Career Progression and Experience

Throughout his career, Ahluwalia has worked across diverse geographical locations including rural, semi-urban, urban, and metropolitan areas in India and abroad, including Hong Kong. His career trajectory includes several strategic positions that demonstrate his comprehensive understanding of banking operations.

Additional Contributions

Beyond his banking responsibilities, Ahluwalia has contributed to organizational culture and employee engagement. He served as President of the Indian Bank Cultural & Sports Committee, demonstrating his commitment to employee welfare and organizational development.

Regulatory Compliance

The appointment complies with all regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank has confirmed that Ahluwalia is not related to any other directors of the bank and is not debarred from holding the office of Director by any SEBI order or other regulatory authority.

This interim appointment ensures continuity in leadership during the transition period while the bank identifies a permanent successor for the MD & CEO position.