Canara Bank has received a communication from Ministry of Finance, Government of India that the Alternative Mechanism (AM) after consultation with Reserve Bank of India (RBI), has decided that Canara Bank and Syndicate Bank may consider amalgamation of the Syndicate Bank into Canara Bank.
Accordingly, a meeting of Board of Directors to consider the amalgamation will be convened by the Bank shortly.
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.
