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Canara Bank to raise Rs 2000 cr

image006Canara Bank is set to raise Rs 2000 crore as capital. The bank said it received shareholders’ approval to raise its capital at its recent AGM. The amount will be raised by issue of equity/preference shares or other securities either by way of follow-on public issue, rights issue, private placement, Qualified Institutional placement (QIP), or any other mode, the bank said in a BSE filing. The bank said the issue proceeds will enable it to strengthen its capital adequacy requirements as specified by RBI from time to time. Its capital adequacy ratio, as on 31 March 2016, stood at 11.08%, well above the 9% stipulated by RBI

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