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Canara Bank is planning to raise up to Rs 1,128 crore through rights issue for the purpose of funding business growth.
The board of the bank has also approved raising of USD 500 million from overseas market through sell of bonds.
Canara Bank has said in a regulatory filing that the board of the bank has provided its approval for raising additional capital of an amount not exceeding Rs 1,128 crore including premium by way of rights issue with the Government of India contribution of Rs 748 crore and Rs 380 crore from the public shareholders.
