Canara Bank has received shareholders’ approval to raise capital by up to Rs 2,000 crore by further issue of equity/preference shares or other securities either by way of follow-on public issue, rights issue, private placement, Qualified Institutional placement (QIP), or any other mode. The issue proceeds will enable the bank to strengthen its capital adequacy requirements as specified by RBI from time to time.
Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.