Central Bank of India plans to raise 20 billion Indian rupees over the next two months in a rights issue or follow-on public offer to further replenish its capital, Mint reported Aug. 20, citing the bank's managing director and CEO Pallav Mohapatra.
The bank will also introduce few retail products with interest rates linking to an external benchmark within a month amid the central bank's push for faster transmission of rate cuts, the report noted.
As of Aug. 20, US$1 was equivalent to 71.54 Indian rupees.
