Corporation bank to raise Rs 1,600 crore

Mumbai, Sep 16 (UNI) The Board of Directors of Corporation Bank today approved a proposal to raise an additional Rs 1,600 crore.

The infusion would be in the form of Tier I Bond/Perpetual bonds to the tune of Rs 600 crore and Upper Tier-II bond for Rs 1,000 crore.

This was in addition to raising of Lower Tier-II Bond to the tune of Rs 1,200 crore, the Bank informed the BSE after the Board meeting.

UNI VK SR VKG1541