For Quick Alerts
For Daily Alerts

Bank of Maharashtra plans to raise Rs 4,000 cr in five years

By Religare

State-owned Bank of Maharashtra said it is looking to raise Rs 4,000 crore during the next five years and 50 per cent of the fund is expected to come from the Centre.

"We have chalked out fund raising plan of Rs 4,000 crore over the next five years. While we will raise Rs 2,000 crore from the market, we are expecting the balance Rs 2,000 crore to come from the government," Bank Chairman and Managing Director Sushil Muhnot said.


The bank's capital adequacy ratio as of March 31 was at 11.94 per cent.

Bank of Maharashtra did not receive any money during the last round of recapitalisation by the government, worth around Rs 6,900 crore.

In the current budget, the government has allocated only Rs 7,940 crore for funding banks and there is no clarity whether BoM will get anything this time around or not.

The Finance Ministry of late has been encouraging banks to raise capital from the market.

Addressing an MSME summit here, Muhnot noted that the small scale sector has grown much faster than corporate sector in the last five years both in terms of credit growth as well as output growth.

Further, on new areas that the bank is looking at, he said, it is keen on renewable energy and refinancing of projects.

Story first published: Monday, July 27, 2015, 12:40 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more