Central Bank of India planning to raise Rs 5,000 crore in FY20
10th Jun 2019

Central Bank of India is planning to raise up to Rs 5,000 crore in the current fiscal (FY20) through various means, including rights issue and FPO, to meet Basel III norms by March 2020.

The bank will raise capital through follow on public offer, rights issue or qualified institutional placement (QIP) and will seek permission from shareholders in the ensuing annual general meeting to be held on June 28, 2019.

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