Kolkata:  Central Bank of India is planning to infuse Rs 1000-1200 crore capital during the current fiscal to maintain capital adequacy and fuel its targeted 20 percent growth in total business during the year.

Central Bank chairman and managing director M V Tanksale said: "Of the Rs 1000-1200 crore that would be infused, we are not expecting more than Rs 750 crore from the government and the rest would be through internal accruals".

The bank aimed to maintain 8 percent tier-I capital during the year besides planning overseas expansion.

"We are looking for a representative office in Nairobi in the next three months," Tanksale said on the sidelines of a FICCI organised Banking Conclave.

"There may a JV with Punjab National Bank for a 50:50 branch or we may go of our own with wholly owned subsidiary in Mozambique," Tanksale said.

The bank has also applied with regulators for a corporate representative office in Dubai.

Meanwhile, the bank registered a credit growth of 18-20 percent and deposits growth of 12 percent.

Tanksale said he was hopeful of bringing down the bulk deposit significantly by next year.

The bank has projected crossing the Rs 4 lakh crore total business mark in the current fiscal.

It is also targeting adding 250 bank branches across the country during 2012-13.


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