US EditionCanara Bank Looks To Rejig Subsidiaries
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Canara Bank Looks To Rejig Subsidiaries
The Reserve Bank of India has cleared Canara Bank's plans to divest 70% stake in its subsidiary, Canbank Factors.At this point, the bank is evaluating procedures for this divestment and did not specify further details in its exchange filing on Tuesday.Canbank Factors was incorporated in 1991 with the Small Industries Development Bank of India and Union Bank of India as the co-promoters.The lender has also proposed to buy out the stakes of Bank o…
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