State-owned Central Bank of India is likely to get Rs 2,406 crore fund infusion from the government by end of next month. The infusion of capital will be done by issuing 308,461,538 fresh shares to the President of India at Rs 78 unit.
The board of Central Bank of India has approved on February 15 preferential allotment of shares to the government.
Last year, the bank got capital infusion of Rs 676 crore from the government. The government, last month, approved infusion of Rs 12,517 crore in around 10 state-owned banks over the next three months.
