Vijaya Bank looks to raise Rs 400 cr

Public sector lender Vijaya Bank Managing Director and CEO Kishore Kumar Sansi said the bank is looking to raise Rs 400 crore this financial year.

Sansi said, “We have capital adequacy ratio (CAR) of 11.42 per cent under Basel III norms and going forward we are looking at 12 per cent as of March 2016. To support that we have requested Rs 400 crore capital from the GoI.”

Last month, the Centre said it would be infusing Rs 20,088 crore of capital into 13 public sector banks. Though Vijaya Bank did not make it to that list, Sansi hopes the bank would receive support when the govt releases the next tranche of Rs 5,000 crore. In case of a shortfall, he said the bank would opt for the QIP route.

Meanwhile, Vijaya Bank announced that it has reduced its base rate by 0.15 per cent to 9.85 per cent with effect from September 4, 2015.