Canara Bank has received approval from the Reserve Bank of India (RBI) to divest its stake in two major ventures—Canara Robeco Asset Management Company and Canara HSBC Life Insurance—through Initial Public Offerings (IPOs). The bank currently holds a 51% stake in both companies. This strategic move aims to unlock value and boost the bank’s financial health. Canara Robeco AMC, a joint venture with Robeco Group, is among India's leading asset management firms. The IPO plans mark a significant step in expanding investor opportunities in financial services.