Central Bank to decide Rs 323 cr fund raise from govt on Jan 3

Central Bank of India today said its board will meet on January 3, 2018 to consider a proposal of raising additional equity capital of Rs 323 crore from the government.
The capital raising committee of the board of director will consider and approve raising additional equity capital of Rs 323 crore by issuance and allotment of equity share of face value of Rs 10 each at such issue price including premium to President of India on January 3, 2018, the bank said in BSE filing.
According to the statement, the committee will also decided to hold an extraordinary general meeting of the shareholders on February 2, 2018 to consider and pass necessary resolution and may also fix January 3, 2018 as relevant date for the purpose of determining the issue price.

The government had on October 24 unveiled a Rs 2.11 lakh crore two-year roadmap for strengthening NPA-hit public sector banks, which includes re-capitalisation bonds, budgetary support and equity dilution.