NewsCanara Bank Submits Security Cover Certificate for Quarter Ended March 31, 2026 Under SEBI Regulation 54Canara Bank Submits Security Cover Certificate for Quarter Ended March 31, 2026 Under SEBI Regulation 54
Canara Bank submitted its Security Cover Certificate for the quarter ended March 31, 2026, to BSE and NSE on May 11, 2026, in compliance with Regulation 54 of SEBI (LODR) Regulations, 2015. The certificate, issued by statutory auditors M/s K Venkatachalam Aiyer & Co. (F.R. No. 004610S), covers 17 listed unsecured non-convertible debt securities with a total sanctioned and outstanding amount of Rs. 54,403.00 crore. As all debt securities are unsecured, the security cover requirement is reported as NIL, and the bank has been certified as fully compliant with all covenants of the listed instruments as on March 31, 2026.
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Canara Bank has filed its Security Cover Certificate for the quarter ended March 31, 2026, with BSE Ltd. and the National Stock Exchange of India Ltd., in compliance with Regulation 54 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure, dated May 11, 2026, was submitted by Company Secretary Santosh Kumar Barik from the bank's Head Office at 112, J C Road, Bengaluru - 560002.
Certificate Issued by Statutory Auditors
The Security Cover Certificate was prepared and submitted by M/s K Venkatachalam Aiyer & Co., Chartered Accountants (F.R. No. 004610S), one of the Statutory Central Auditors of the bank. The certificate was signed by Partner M. Sivakumar (M. No. 023844) and carries UDIN: 26018159 PE OR VT 2927. The submission is in accordance with Regulation 54(2) read with Regulation 56(1)(d) of the SEBI (LODR) Regulations, 2015, as amended from time to time, and SEBI Circular No. SEBI/HO/DDHS-PoD3/P/CIR/2024/46 dated May 16, 2024.
Listed Unsecured Non-Convertible Debt Securities
As on March 31, 2026, Canara Bank has 17 listed unsecured non-convertible debt securities outstanding. The combined sanctioned amount and outstanding amount for all these instruments stand at Rs. 54,403.00 crore. The following table details each instrument:
| SI No.: | Facility | Sanctioned Amount (Rs. Crore) | Outstanding as on 31.03.2026 (Rs. Crore) |
|---|---|---|---|
| 1 | BASEL III AT I 2021-22 SR III | 1,000.00 | 1,000.00 |
| 2 | BASEL III TIER II 2016-17 | 3,000.00 | 3,000.00 |
| 3 | BASEL III AT I 2022-23 Series I | 2,000.00 | 2,000.00 |
| 4 | BASEL III TIER II S-1 | 2,000.00 | 2,000.00 |
| 5 | BASEL III TIER I S-II | 2,000.00 | 2,000.00 |
| 6 | BASEL III AT I 2021 S1 | 1,500.00 | 1,500.00 |
| 7 | BASEL III AT I 2021-22 SR II | 1,500.00 | 1,500.00 |
| 8 | BASEL III TIER II S 1 | 2,500.00 | 2,500.00 |
| 9 | LTB 2023 - 1 | 5,000.00 | 5,000.00 |
| 10 | LTB 2023 - 2 | 5,000.00 | 5,000.00 |
| 11 | BASEL III AT I 2023-24 Series I | 1,403.00 | 1,403.00 |
| 12 | BASEL III AT I 2023-24 Series II | 2,000.00 | 2,000.00 |
| 13 | CB LTB 2034 | 10,000.00 | 10,000.00 |
| 14 | BASEL III AT I 2024-25 Series I | 3,000.00 | 3,000.00 |
| 15 | BASEL III TIER II 2024-25 Series I | 4,000.00 | 4,000.00 |
| 16 | BASEL III AT I 2025-26 Series I | 3,500.00 | 3,500.00 |
| 17 | BASEL III TIER II 2025-26 Series I | 5,000.00 | 5,000.00 |
| Grand Total: | 54,403.00 | 54,403.00 |
All 17 instruments are classified as unsecured, and accordingly, the Cover Required and Assets Required columns are reported as Nil for each.
Security Cover and Covenant Compliance
Since Canara Bank has issued only unsecured non-convertible debt securities, the requirement to provide particulars of security and security coverage against interest and principal amount is not applicable. In line with the clarification received from NSE—applicable to entities having only unsecured debt securities—the bank has submitted a NIL report in the prescribed format as per SEBI Circular No. SEBI/HO/DDHS-PoD3/P/CIR/2024/46 dated May 16, 2024. The Exclusive Security Cover Ratio and Pari-Passu Security Cover Ratio are both reported as NIL.
Based on examination of the books of accounts and other relevant records and documents, M/s K Venkatachalam Aiyer & Co. have certified that Canara Bank has complied with all the covenants of the above-mentioned listed unsecured non-convertible debt securities as on March 31, 2026. The NIL report is provided as Annexure I to the certificate, covering all prescribed asset and liability categories including Property, Plant and Equipment; Investments; Loans; and Debt Securities, all of which carry NIL values in the context of security cover for these unsecured instruments.
Historical Stock Returns for Canara Bank
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.65% | -3.88% | -7.01% | -7.99% | +35.71% | +339.79% |
Given Canara Bank's ₹54,403 crore in outstanding unsecured debt securities, how might a potential credit rating downgrade impact its ability to raise fresh capital through similar instruments in FY2026-27?
With the CB LTB 2034 being the single largest instrument at ₹10,000 crore, what refinancing risks could Canara Bank face if interest rate conditions deteriorate significantly before its maturity?
As Canara Bank continues to rely heavily on Basel III AT1 and Tier II instruments for capital adequacy, how might tightening RBI regulations on Additional Tier 1 bonds affect the bank's future capital-raising strategy?
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