Canara Bank shares in focus after RBI’s divestment nod to AMC, insurance subsidiary

Canara Bank received RBI’s approval to divest 13% stake in Canara Robeco Asset Management Company and 14.5% in Canara HSBC Life Insurance Company through IPOs. The bank must reduce its stake in both entities to 30% by October 31, 2029. Canara Bank’s Q2 profits rose 11% to ₹4,015 crore, driven by increased interest earned.