Public sector Central Bank of India will raise Rs 1,297 crore by issuing preference shares to the government. The bank's capital raising committee of the board of directors will hold a meeting on Monday to "consider and approve the raising of additional equity capital," the bank said in a BSE filing. The capital raising committee may also decide to hold an extraordinary general meeting of shareholders on August 18 to consider and pass the necessary special resolution, it added. For the current financial year's capital infusion commitment of Rs 25,000 crore in public sector banks, the government released Rs 22,915 crore on Tuesday for 13 public sector banks including State Bank of India, Punjab National Bank, Canara Bank, Bank of India, and Central Bank of India. The ministry said 75 per cent of the amount collected for each bank is being released now to provide liquidity support for lending operations as also to enable banks to raise funds from the market.
It said the remaining amount will be released later based on their performances.
Of the Rs 22,915 crore, SBI gets Rs 7,575 crore, PNB 2,816 crore, Bank of India Rs 1,784 crore, and Central Bank of India Rs 1,729 crore.
