Canara Bank's board is going to consider capital infusion of up to Rs 9,000 crore through issuance of preferential equity shares to the government of India. The Meeting of board of directors of the bank is scheduled to be held on September 13, 2019, to consider the same.
The board will also consider amalgamation of Syndicate Bank with it.
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.