Canara Bank appoints new director, cancels EGM

Canara Bank has informed stock exchanges of the election of Balakrishna Raghavendra Rao as a shareholder director, effective September 13, 2025. Rao will hold office until November 29, 2027. His nomination was deemed valid and "Fit and Proper" by the Nomination & Remuneration Committee of the board.

As there was only one valid nomination for the single vacancy, in accordance with Regulation 66 (i) of Canara Bank (Shares and Meetings) Regulations, 2000, Rao was automatically elected. Consequently, the Extraordinary General Meeting (EGM) previously scheduled for September 25, 2025, which was solely for the purpose of this election, has been cancelled.

Rao, 62, brings over 33 years of banking experience, having retired as deputy managing director (DMD) at the State Bank of India. He holds an M.Sc-Tech in Instrumentation Engineering and is a Certified Associate of the Indian Institute of Bankers. He has also completed business management training at the Chicago School of Business in 2019 and the London School of Business in 2023. Canara Bank confirmed that Rao is not related to any other directors and is not debarred from holding the office by any regulatory authority.