Canara Bank CEO K Satyanarayana Raju announced the bank may not reapply for a credit card subsidiary after the Reserve Bank of India rejected their proposal, reportedly due to concerns over unsecured loan risks in banks. Instead, Canara Bank has launched an internal credit card wing, operational since October 1, to handle card-related services. Raju also mentioned the government’s approval for Canara HSBC Life Insurance’s upcoming IPO is likely this month. The updates were shared during the Business Standard BFSI Insight Summit, underscoring Canara Bank’s evolving credit strategies.