OBC seeks government fillip

Oct 14, 2010 |

Correspondent

State-owned Oriental Bank of Commerce (OBC) on Wednesday said it has requested the government to provide `1,000 crore as capital support to enhance its business. “We have requested for `1,000 crore capital support from the government,” OBC chairman and MD, Mr T. Y. Prabhu, said. This will help the bank increase credit growth in the coming years, he said, adding that the capital support may come through during the current fiscal. The government is considering capital infusion in banks where the government’s holding is 51 per cent. The move is aimed at providing capital to the banks, as well as creating headroom for raising capital.

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