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Corporation Bank has sought capital support from the Central Government to the tune of Rs 300 crore, its Chairman and Managing Director, Mr Ramnath Pradeep, said. Indications are that the Government will consider this request when it embarks on the next round of capitalisation of public sector banks, Mr Pradeep told reporters on the sidelines of an event organised by PHD Chamber of Commerce and Industry (PHDCCI) here. Mr Pradeep also made it clear that the bank was not looking to raise any capital at present as it was comfortable on the capital adequacy front at more than 14 per cent. The request for capital infusion of Rs 300 crore forms part of the three-year business plan submitted to the Finance Ministry recently, sources said. Mr Pradeep expects credit growth to moderate further this financial year due to rise in interest rates. “Our target for credit growth this financial year was 25 per cent. Loan growth is expected to be lower than the original estimate. We will have to revisit it. It could be around 22 per cent,” he said. Mr Pradeep also expects a lower deposit growth of about 20 per cent this financial year as against 22 per cent estimated earlier.
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