Canara Bank has informed the Exchange about change in Management
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Shri Hemant Buch, who represented Life Insurance Corporation of India (LIC) as a Shareholder Director on Canara Bank's Board, resigned effective 1 July 2025. The resignation follows RBI communications dated 12 June and 24 June 2025, which disqualified LIC employees connected with para-banking activities from serving on Public Sector Bank boards under RBI's Fit & Proper criteria for elected directors. He held no directorships in any other listed entities, and no other material reasons were cited. The disclosure is filed under SEBI LODR Regulation 30 with the required Annexure-I details.
This is a routine, regulator-driven board change with no negative implications for the bank's operations or shareholders. The vacancy for the LIC-nominated Shareholder Director seat is expected to be filled by LIC in due course.