Banks, financial institutions rush to raise funds as credit growth picks up

Overall credit growth for the current financial year may remain in single-digit in the current financial year, though there will be improvement as compared to 2020-21.

Topics
Banking | financial services | lending

Subrata Panda & Manojit Saha  |  Mumbai 


A host of banks and financial institutions is raising funds from the market in March to fund their business growth and meet balancesheet targets before the end of the financial year. Earlier this month, two public sector lenders — Union Bank of India and Canara Bank — raised Rs 1500 crore and Rs 1,000 crore by way of additional tier-I bonds as they see increase in credit demand.

Another public sector lender Bank of Maharashtra is planning to raise Rs 1000 crore through the same route in March. Among private sector lenders, HDFC – the largest ...

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First Published: Thu, March 10 2022. 06:02 IST