According to Mr. J.M. Garg, Chairman and Managing Director, Corporation Bank is in talks with the Government for a Rs.6000 crore right issue for launching in October - March. At present, the Govt. has a 57% stake in the bank. The bank has projected a capital requirement of Rs.14000 crore for the next three years.
Source: http://www.business-standard.com/india/news/corporation-bank-seeks-government-nod-for-rs-6000-crore-rights-issue/382477/
CORPORATION BANK SEEKS GOVERNMENT NOD FOR RS. 6000 CRORE RIGHTS ISSUE
Labels: BANKING N FINANCE
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