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DARK SECRETS: Canara bank - The Real Truth

₹1 crore penalty on Canara HSBC Life Insurance Company over mis-selling of a deferred annuity policy to an 88-year-old senior citizen

An 88-year-old was sold a deferred annuity policy despite age restrictions, leading to a Rs 1 crore penalty for Canara HSBC Life. IRDAI found multiple lapses in sales, underwriting, and disclosure. The regulator's order highlights crucial lessons for senior citizens buying long-term insurance products, especially via bank branches.

The Economic Times

Stocks in news: Canara Bank, Vodafone Idea, Premier Energies and ACME Solar

Indian equity markets saw a slight recovery on Thursday after recent declines. Canara Bank plans to raise substantial funds through bond issuances. Vodafone Idea is set to receive significant debt financing from lenders. Premier Energies and RCT India will form a joint venture for battery manufacturing. Several other companies reported…

The Economic Times

Global Fintech Fest 2026: DFS Secretary Sanjay Lohiya unveils UPI credit for KCC, MUDRA borrowers

DFS Secretary Sanjay Lohiya at Global Fintech Fest 2026 unveiled a facility allowing eligible Kisan Credit Card and PM MUDRA Yojana borrowers to use sanctioned credit limits for merchant payments through UPI. The move could widen digital access to formal credit for farmers and small businesses, with more banks expected…

The Economic Times

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Savings account interest rates of up to 7%: Canara Bank, Bank of India, IDFC First Bank revise rates; check details

Canara Bank, Bank of India, and IDFC FIRST Bank have announced updates to their savings account interest rates, which will take effect on September 1 and September 5, 2026. Canara Bank will offer interest from 2.50% to 4%, while Bank of India presents a range of 2.50% to 6.25%. IDFC…

The Economic Times

Bank of Maharashtra, Canara Bank eye dollar debt issuance this month, bankers say

Canara Bank and Bank of Maharashtra will raise $500 million each through dollar bonds. These lenders will issue three-year or five-year papers under a concessional swap window. This move aims to lower the cost of hedging currency exchange rate risks. Bank of Maharashtra is making its debut issuance, while Canara…

The Economic Times

Canara Bank ATM charges revised from September 1, 2026: Key changes about free transactions limit, insufficient balance fee and more

Canara Bank has revised certain automated teller machine (ATM) transaction charges with effect from September 1, 2026.Check latest ree ATM transactions limit, charges for financial transactions beyond the free limit and fee for transactions that are declined due to insufficient funds.

The Economic Times

Subhash Chandra's dissenting lenders Canara Bank, Union Bank move NCLAT against NCLT order

Dissenting lenders have challenged the NCLT order approving Subhash Chandra's personal insolvency plan. The Essel Group chairman's plan proposes a Rs 6.5 crore payment against creditor claims. Lenders argued that five entities linked to Chandra's family improperly influenced the voting process. The NCLT approved the plan after a third member…

The Economic Times

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Dissenting creditors alleged family-linked entities cast 61.78 pc votes that cleared Subhash Chandra's insolvency plan

Dissenting lenders have alleged that five entities linked to Subhash Chandra’s family controlled 61.78% of voting rights and helped approve his personal insolvency plan. The plan proposes paying ₹6.5 crore against admitted creditor claims of about ₹22,006.57 crore, though Chandra disputes that claim amount.

The Economic Times

Union Bank, LIC Housing Fin, Canara Bank challenge NCLT nod to Subhash Chandra resolution plan

Canara Bank, Union Bank of India, and LIC Housing Finance will challenge a repayment plan. The National Company Law Tribunal approved the plan for Dr Subhash Chandra's insolvency case. These lenders opposed the plan, which was approved by other private creditors. They are filing appeals before the National Company Law…

The Economic Times

444-day FD with highest interest rates: Which PSU bank provides highest maturity on Rs 5 lakh investment? Check here

Public sector banks are currently offering enticing interest rates on fixed deposits with special tenures. The standout option is the 444-day scheme provided by the Central Bank of India, boasting an impressive interest rate of 6.75%.

The Economic Times

Supreme Court dismisses Reliance Communications, lenders' petitions against bank guarantee invocation

The Supreme Court dismissed Reliance Communications lenders' challenge to the DoT's bank guarantee invocation. The court stated lenders should have approached the high court first for this matter. The DoT sought to invoke bank guarantees totaling approximately ₹800 crore from four banks. Lenders argued the Supreme Court's prior judgment did…

The Economic Times

Highest FCNR (B) interest rates: Check PSU vs private sector bank rates for NRIs, OCIs

FCNR (B) FD interest rates: The window for Non-Resident Indians to enjoy favorable FCNR(B) deposit rates is closing soon, specifically on August 31. With the government absorbing the hedging costs for these foreign currency deposits, this is an opportune moment for investors. Many banks are offering attractive interest rates, so…

The Economic Times

Pledged gold jewellery stolen in bank robbery: Will bank repay full gold value, including making charges? Consumer commission answers

A man from Tumkur in Karnataka opened 2 gold loan accounts at a Canara Bank branch by pledging 2 items of gold each under both, in August 2017. The gold jewellery, kept in the custody of the Canara Bank branch, was robbed. On noticing the robbery of gold articles, the…

The Economic Times

Up to 7.25% senior citizen FD interest rate: What is the maturity amount on Rs 5 lakh in 5-year SBI, PNB, HDFC Bank & other FDs?

For senior citizens seeking consistent returns, fixed deposits present an appealing option. Notably, Axis Bank currently leads the market with a striking interest rate of 7.25% for a five-year term. A Rs 5 lakh investment could mature to around Rs 7.16 lakh after five years. Other prominent banks such as…

The Economic Times

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The Economic Times

Canara Bank, Bank of Baroda increase lending rates: Why loan EMIs for these borrowers may rise after hikes

Bank of Baroda and Canara Bank have raised their lending rates. These banks increased their Marginal Cost of Funds Based Lending Rates by up to ten basis points. The revised rates for both banks become effective from August 12, 2026. Borrowers with loans linked to MCLR may see their interest…

The Economic Times

ICICI Securities initiates coverage on 7 PSU banks with positive valuations

ICICI Securities commenced its analysis on seven public sector banks, giving most a Buy rating. They predict a strong return on equity for these institutions leading up to fiscal year twenty twenty-eight. Loan growth should remain vigorous, estimated at fourteen to fifteen percent each year. While asset quality is likely…

The Economic Times

HDFC Bank, Axis Bank collect highest penalties from customers for non-maintenance of minimum average balance; Bank of Baroda tops public sector bank list

HDFC Bank, Axis Bank, and Bank of Baroda collected the most penalties for low balances. Public sector banks collected these charges from FY 2021-22 to FY 2025-26. Private sector banks collected penalties from FY 2022-23 to FY 2025-26. Most public sector banks have now withdrawn these charges for savings accounts.…

The Economic Times

Canara Bank recovers loan by emptying account on a Sunday: Woman says money was debited without consent; court orders Rs 45,000 payout

A Kerala consumer commission has ordered Canara Bank to pay Rs 45,000 in compensation and costs after it automatically debited Rs 53,463 from a woman's savings account on a Sunday to recover a gold loan, without her consent and without first invoking its right to sell the pledged gold ornaments…

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The Economic Times

Canara Bank Q1 Results: Net profit rises 2% YoY to Rs 4,856 crore; NII jumps 13%

Canara Bank Q1 Results: State-owned Canara Bank reported a 2% YoY rise in Q1 FY27 net profit to Rs 4,856 crore, while net interest income (NII) grew 13% to Rs 10,216 crore. Asset quality improved sharply, with total NPAs declining nearly 24% YoY to Rs 1,399 crore. Total provisions also…

The Economic Times

Q1 Results today: Coal India, Tata Power, BEL, Coforge, among 68 companies to announce earnings

The Q1 FY27 earnings season gathers pace on Monday, with 68 companies set to announce their April-June quarter results. Key names on the radar include Coal India, Tata Power, Bharat Electronics, Godfrey Phillips, Coforge and Canara Bank. Investors will also track earnings from Indus Towers, Tata Chemicals, HUDCO, Happiest Minds…

The Economic Times

Highest 5-year senior citizen FD interest rates: Public vs private sector banks- which offers highest maturity

Highest FD rates: Senior citizens can secure higher returns on fixed deposits with select banks. Bandhan Bank, IndusInd Bank, and YES Bank offer 7.75% on three-year FDs. DCB Bank leads with an 8.00% interest rate for five-year fixed deposits. Public sector banks like Bank of India provide 7.45% on three-year…

The Economic Times

$17.4 billion flows into FCNR(B) deposits: Which bank offers the best 3-year FCNR(B) FD rate—SBI, PNB, HDFC Bank, ICICI Bank or Canara Bank?

Foreign currency deposits have seen significant inflows after a new RBI scheme. Canara Bank offers the highest 3-year FCNR(B) USD fixed deposit rate. HDFC Bank, Axis Bank, and ICICI Bank offer a 6% interest rate. These deposits are available in various foreign currencies and offer tax exemptions.

The Economic Times

Insurance distribution boosts fee income at most public sector banks in FY26

Public sector banks earned higher insurance commissions in FY26, with most lenders reporting growth. Mutual fund distribution income showed mixed performance across various banks. State Bank of India led insurance commissions, with significant contributions from its subsidiary. Canara Bank and Bank of Baroda also reported insurance commission increases. However, Punjab…

The Economic Times

Rekha Jhunjhunwala sells 1 crore Canara Bank shares in Q1. What's behind the move?

Veteran investor Rekha Jhunjhunwala sold over 1.07 crore Canara Bank shares during the April–June quarter, reducing her stake from 1.54% to 1.42%, according to the lender's latest shareholding data. The stake sale comes amid an 18% decline in the PSU bank's stock in 2026.

The Economic Times

India's banks are handing out more loans, but deposits aren't keeping up

Indian banks witnessed a surge in lending during the April-June quarter, outpacing deposit growth and widening the funding gap. This trend, driven by robust demand from corporate and retail sectors, has pushed the loan-to-deposit ratio to a decade-high, raising concerns about funding sustainability. While some lenders saw deposits decline, others…

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