Canara Bank has informed BSE that in exercise of the powers conferred by sub-section (2A) of Section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, the Government of India, in consultation with the Reserve Bank of India, has increased the Authorized Capital of Nationalised Banks from "One thousand five hundred crores of rupees" to "Three thousand crores of rupees", vide Notification dated November 10, 2009 and published in the Official Gazette on November 21, 2009. Accordingly, the authorized capital of the Bank stands increased from One thousand five hundred crores of rupees to Three thousand crores of rupees. This has been placed before the Board of Directors at its meeting held on January 15, 2010 and taken on record.
Source: BSECourtesy moneycontrol.com
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