Will Private Sector Candidate be chosen as MD of Canara Bank?

Recently, Canara Bank released the notification for the recruitment of candidates to the post of MD&CEO. For the first time ever, a public sector bank has allowed candidates from the private sector to apply for the post of MD&CEO.

As per sources, six candidates from the private sector have applied for the post of Managing Director (MD) and Chief Executive Officer (CEO) of Canara Bank. Interviews are scheduled for December 22. A total of 19 candidates have applied for the post, including one from State Bank of India, 12 from other public sector banks, and six from private sector banks.

The interviews for all applicants will be conducted by the Financial Services Institutions Bureau (FSIB), they added. The tenure of current MD & CEO, K Satyanarayana Raju will end on December 31.

Eligibility criteria for MD&CEO post

1. Age: The applicant should have minimum 45 years of age and 3 years of residual service [treating 60 years as the date of superannuation] as on the date of vacancy of the post i.e. January 1, 2026.
2. Educational Qualifications: The applicant must hold a Graduate degree of any of the Universities incorporated by an Act of the Central or State Legislature in India or other educational institutions established by an Act of Parliament or declared to be deemed as a University under Section 3 of the University Grants Commission Act 1956 or possess an equivalent qualification.

Click here to download Notification and Check all details