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.

Canara Bank has confirmed the successful credit of Rs 10.76 crore as redemption and annual interest payment to investor bank accounts. The payment was processed on January 6, 2025, through multiple electronic transfer modes including RTGS, NEFT, IBA, and DD as per Enforcement Directorate order.

Payment Details and Compliance

The bank informed stock exchanges about this financial transaction under Regulation 57 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The communication was made in reference to an earlier intimation letter dated December 31, 2025.

Regulatory Framework

The payment was executed following an Enforcement Directorate order specifically related to ISIN INE476A08100. The bank's disclosure demonstrates compliance with securities regulations requiring timely communication of material financial transactions to stock exchanges.

Corporate Communication

The official communication was addressed to both BSE Limited and National Stock Exchange of India Limited, ensuring comprehensive market disclosure. The announcement was signed by Santosh Kumar Barik, Company Secretary, maintaining proper authorization protocols for such material disclosures.

The bank's proactive communication to stock exchanges ensures transparency and adherence to regulatory requirements, keeping all stakeholders informed about significant financial transactions as mandated under SEBI guidelines.