Business

Central Bank to raise Rs 6,500 cr this fiscal

PNS

 Central Bank of India (CBI) will raise up to Rs 6,500 crore this fiscal through various means, including preferential issue or follow on public offer. The board of directors at a meeting held on Tuesday approved the proposal pending approval from shareholders to raise the equity capital of up to Rs 6,500 crore during 2017-18, CBI said in a regulatory filing. The public-sector lender said the money can be raised through various modes such as preferential issue, qualified institutional placement, rights issue, follow on public offer.