[3] Ammembal Subba Rao Pai, a philanthropist, established the Canara Hindu Permanent Fund in Mangalore, India, on 1 July 1906.

Sree Poornathrayeesa Vilasam Bank had been established on 21 February 1923 and at the time of its acquisition it had 14 branches.

The proposed merger would create the fourth largest public sector bank in the country with total business of ₹15.20 lakh crore (US$180 billion) and 10,324 branches.

Canfin Homes Limited (CFHL)- A network of 110 branches and 28 satellite offices throughout India[18] 2.

Canara Bank offers Unified Payment Interface (UPI) app named "empower".

On 7 May 2020, Bhanu Srivastav from Canara Bank, partnered with NGOs to donate all his royalty proceeds for the betterment of needy children.

[30] He is working at Canara Bank Head Office, in Human Resource Department and a bestselling author.

[31][32] On 23 May 2020, Canara Bank announced credit support for borrowers affected by COVID-19 to enable them to avail the sanctioned facilities to the full extent and improve their business.

The issuance received interest from investors across Asia, the Middle East, and Europe, indicating a strong confidence in Canara Bank's creditworthiness.

[37] Canara Bank faced a monetary penalty of Rs 2.92 crore from the Reserve Bank of India (RBI) due to non-compliance with regulations, including failures in linking interest rates of loans to external benchmarks and other operational norms.

This penalty reflects the RBI's scrutiny on ensuring adherence to banking standards aimed at protecting consumer interests and maintaining financial stability.

[39][40] Canara Bank officers have been involved in instances where they were recorded verbally abusing employees for not meeting their work targets, as documented in videos that circulated on social media, prompting the bank to address these incidents publicly.

[43] His resignation drew significant attention due to his reputation as a star performer within the bank.

[44] This trend has been noted in discussions around employee management and transfer policies within the banking sector.