Bank of Rajasthan to raise Rs1000 crore

Bank of Rajasthan Ltd plans to raise up to Rs1,000 crore through overseas funding for improving its capital adequacy ratio and for expansion.

However, the instrument for raising the money and the amount will be decided after shareholders'' approval, Pravin Kumar Tayal, chairman of the bank, said.

The bank has scheduled its annual general meeting on June 17, 2005. The board also approved an increase in its authorised capital from Rs150 crore to Rs250 crore.