Canara Bank has received approval to raise funds through additional Tier I Capital through Basel III Compliant Additional Tier I Perpetual Bonds in Rupee terms for an amount not exceeding Rs 3,000 crore in single tranche or in multiple tranches. The Board of Directors of the bank at its meeting held on December 19, 2018 has approved the same.
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.