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Bank of Maharashtra aims to raise Rs 4,000 crore

The state owned bank, Bank of Maharashtra aims to raise Rs 4,000 crore in the next five years and expects that 50% of the fund will come from the Centre.

The Chairman and Managing Director of the bank, Sushil Muhnot said, “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.”

The government has in the current budget allocated only Rs 7,940 crore for funding banks and there is no clarity about the BoM getting anything this time around or not.

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