Central Bank of India is planning to raise Rs 3000 crore in FY16. Of total, the bank will raise Rs 1,500 crore from the government and the rest would be from internal accruals and will go to the market.
Last week, the government had said public sector banks would need to raise Rs 1.10 lakh crore from markets to meet more than half of their capital requirement of Rs 1.80 lakh crore over the next four years to meet the Basel III capital adequacy norms.
Of this Rs 1.80 lakh crore fresh growth capital, the government would provide Rs 70,000 crore over a period of four years out of which they will be getting Rs 25,000 crore in 2015-16 and a similar amount in next financial year.
