Corp Bank seeks Rs 300 cr from Govt to fund credit growth

Public sector Corporation Bank has sought about Rs 300 crore from the Central Government to augment its future credit growth, and hopes to get the funding by the fiscal-end. The bank's capital adequacy ratio is over 14 per cent, with a tier-I capital of above 8 per cent.

As part of its efforts to achieve a total business of Rs 5 lakh crore by 2015, the bank has undertaken a re-jig of its organizational structure. The bank also plans to open 200 branches every year. This fiscal, 50-60 branches have already been added to the network.