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Money & Banking - Overseas Borrowings


Bank of Rajasthan to raise funds abroad

Our Bureau

Mumbai , May 18

BANK of Rajasthan Ltd plans to raise up to Rs 1,000 crore through overseas funds to shore its capital adequacy ratio and for expansion.

However, the instrument for raising the money and the amount will be decided after shareholders' approval, Mr Pravin Kumar Tayal, Chairman of the bank, said.

The bank has scheduled its annual general meeting on June 17, 2005. The board also approved an increase in its authorised capital from Rs 150 crore to Rs 250 crore.

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