Canbank Plans Capital Return After Policy Clarity

Canara Bank plans to return Rs 100 crore to the Centre once the contentious issue of return of capital by banks to the government is resolved.

After returning the capital the bank may go in for a second initial public offer (IPO) to enhance its long-term resources as well as augment the capital base to meet future capital adequacy requirements.

Prior to its Rs 385 crore initial public offer in November 2002, the bank had returned Rs 277.87 crore to the Government of India (GoI).

After returning the capital second time, the Centre