Pallav Mohapatra, managing director and chief executive officer, Central Bank of India said that bank is looking to raise Rs 2,000 crore from the market over the next two months. Speaking on the sidelines of the banking summit organised by the Federation of Indian Chambers of Commerce and Industry and Indian Banks Association, she also said that the funds will be raised over and above the government infusion, via rights issue or follow-on-public offer.
According to Mohapatra, the bank will introduce a few retail products whose interest rates will be linked to an external benchmark within a month.
Following the Reserve Bank of India’s Monetary policy, several banks including SBI has linked few retail loan products with the repo rate, to comply with RBI’s push for faster transmission of rate cuts.
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Shaktikanta Das, RBI Governor said, that the central bank is considering asking banks to link repo rate to an external benchmark.