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Canara Bank, on Wednesday, said its board will meet next week to consider capital infusion of up to ₹9,000 crore through issuance of preferential equity shares to the government of India.
The board will also consider amalgamation of Syndicate Bank with it.
“The meeting of the board of directors is scheduled to be held on September 13 to consider the amalgamation of Syndicate Bank into Canara Bank, and to consider capital infusion of up to ₹9,000 crore by the government of India by way of preferential issue of equity shares, subject to necessary approvals,” Canara Bank said in a regulatory filing.
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