Govt makes capital infusion of Rs 2560 crore in Central Bank of India
22nd Feb 2019

Government of India has conveyed the sanction of President of India for release of Rs 2560.00 crore to Central Bank of India towards contribution of the Central Government in the preferential allotment of equity shares (Special Securities/Bonds) of the Bank during the financial year 2018-19, under Plan as Government's Investment. The said fund was received by the Bank on February 21, 2019 and has been kept in ‘Central Bank of India Share Application Money Account’.

In relation to the above, meeting of the Capital Raising Committee of the Board of Directors of the Bank will be held on February 26, 2019 to fix the date of Extra-Ordinary General Meeting (EGM) for passing the necessary Special Resolution, to fix the Relevant date, to determine the Issue Price in terms of SEBI (ICDR) Regulations, to decide the number of equity shares to be offered to President Of India (Government Of India) and do all such acts, deeds and things as may be deemed necessary.

Central Bank of India is a commercial bank. The bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business.