According to sources, the boy, identified as Kajil (11) who lived in a nearby slum, had gone to collect discarded polythene bags on the bank when he slipped into the canal.
"Police rushed to the spot and called in divers to recover the body. After a one-hour search, Kajil's body was fished out," said a senior police officer.
The body of the deceased had been sent for postmortem, they said.
Police suspect that it was a case of accidental death, but an investigation is on to ascertain if somebody had pushed him into the canal, the officer said.