"We have asked for Rs.800 crore capital infusion and are hoping to get it soon," UCO Bank executive director S.Chandrasekharan said here.
Chandrasekharan said the city-based bank had already garnered a capital of Rs.1,000 crore by way of Tier-II bonds so far during the current financial year.
The Rs.800 crore capital infusion will help the bank in keeping its tier I capital ratio above 8 percent. Its capital adequacy ratio stood at 12.27 percent at the end of September this year.
Chandrasekharan was talking to media persons at a media meet on the occasion of the bank's 71st foundation day celebrations.
Stating that the public sector lender was eyeing a 20 percent business growth this fiscal, he said: "We are aiming to touch a business of Rs 3 lakh crore by March 2013."
The bank was reducing its dependence on bulk deposits and emphasising on mobilising low-cost deposits in order to keep its cost of funds under control, he said.
