The plan includes doubling the bank's business volumes and reducing gross NPA level below 3 percent.

"The plan rests on business growth and our approach will be to catch up with the industry. We will double our business from around Rs 5 lakh crore in FY16 to Rs 10 lakh crore in FY19, representing CAGR of over 20 percent per annum," Managing Director and Chief Executive Kishor Kharat told reporters here.

However, he was quick to add the "transformational plan" has nothing to do with the Government's move to reduce stake in the bank.

Kharat said bad loan will remain an issue for some more time but expressed confidence the bank will be entering the next fiscal with a lighter stress.

For the quarter ended December, the bank's gross NPAs jumped to 8.94 percent from 5.94 percent in the same period last year, while net NPA rose to 4.60 percent.

To meet the plan, the bank is looking at raising around Rs 19,000-20,000 crore over the next three years, he said. Besides, it will be raising Rs 4,000 crore from Tier I bonds and Rs 8,000-9,000 crore through Tier II bonds.

The city-based lender has lined up around Rs 3,000 crore of assets for monetisation, of which it is expecting nearly Rs 1,200-1,500 crore to accrue this month.

The bank has also put on hold its plan to raise Rs 3,771 crore through qualified institutional placement (QIP) route due to volatile market conditions.

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