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Kolkata, July 1 Central Bank of India will be looking at raising Rs 500-600 crore in 2008-09 in order to boost its capital adequacy ratio to about 11 per cent, according to Ms H. A. Daruwalla, Chairperson and Managing Director of the bank.

The capital adequacy ratio of the bank was at 10.42 per cent as on March 31, 2008. “We want it to be more than 11 per cent. We have not decided on the exact amount and mode of raising the capital. But, we would look at a basket of instruments. It could be equity, debt, hybrid instruments or even subordinate bonds,” she said, speaking to newspersons on the sidelines of Banking Conclave 2008, organised by FICCI, here, on Monday.

According to Ms Daruwalla, the bank would also consider approaching the government for a follow-on public issue.

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