i am traveling from Canada to Bangalore with a change of flights at Frankfurt(Germany)?

I have a Indian Passport and also have my Canadian Permanent Residence card .

That will be fine.... anyways, what is your real question?

You can't leave the airport unless you have a Schengen visa. This is what they now give instead of a German tourist visa. It covers 15 countries in the European Union who signed the agreement.

http://www.schengenvisa.cc/

Being a Landed Immigrant doesn't carry the same weight as actual Canadian citizenship. When you have that, then you will be able to enter the European Union without a visa.

You don't need any sort of transit visa for staying in the airport though, as long as you have an onward flight. Frankfurt is a common connection point for people flying between the Subcontinent to North America.