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 officially announced the completion of tenure of its Managing Director & Chief Executive Officer, Shri K. Satyanarayana Raju, effective December 31, 2025. The leadership transition occurred due to superannuation, marking the end of Raju's tenure at the helm of the public sector bank.

Leadership Transition Details

The bank informed stock exchanges about this significant corporate development through an official communication dated December 31, 2025. The announcement was made in strict compliance with Regulation 30 of SEBI (LODR) Regulations, 2015, which mandates disclosure of material events and information.

Regulatory Framework

The leadership change follows the Department of Financial Services, Ministry of Finance, Government of India Notification No. eF.no. 4/6/2021-B.O.I, dated February 7, 2023. This notification established the framework governing the tenure and superannuation of senior executives in public sector banks.

Shri K. Satyanarayana Raju ceased to be the Managing Director & Chief Executive Officer of Canara Bank at the close of business hours on December 31, 2025, upon attaining the prescribed superannuation age as per government guidelines.

Corporate Governance Compliance

The announcement demonstrates Canara Bank's commitment to maintaining transparency and adhering to corporate governance standards. The disclosure was signed by Santosh Kumar Barik, Company Secretary, ensuring proper authorization and documentation of this material corporate event.

The bank's communication to stock exchanges ensures that all stakeholders, including investors, regulators, and market participants, are informed about this leadership transition in a timely and transparent manner as required under securities regulations.