Canara Bank named Hardeep Singh Ahluwalia, its Executive Director, as interim Managing Director and Chief Executive Officer effective 1 January 2026, following the superannuation of incumbent MD and CEO K Satyanarayana Raju. The interim arrangement at the Bengaluru-headquartered public sector lender applies while the appointment of a permanent successor, Brajesh Kumar Singh, recommended by the Financial Services Institutions Bureau on 22 December 2025, awaits government approval.
Ahluwalia stepped into the additional charge of the top role upon Raju's retirement.
APPOINTMENT PROCESS
The process for appointing a permanent MD and CEO at a public sector bank in India involves the Financial Services Institutions Bureau (FSIB), which replaced the Banks Board Bureau in 2022, followed by approval from the Appointments Committee of the Cabinet. Until that process is concluded and a permanent appointment is formalised, Ahluwalia holds the interim charge of the role in his capacity as Executive Director.