Corporation Bank to create new asset base
Ahmedabad: Corporation Bank has decided to create an additional asset base to the tune of Rs 5,000 crore by way of new investments and advances.

With its equity participation in the Life Insurance Corporation of India , the Corporation Bank has received Rs 459.42 crore from LIC for allotting 2.34 crore share at price of Rs 196 per share. This additional infusion of capital has increased the capital adequacy ratio of the bank from 13. 5 per cent to 17. 5 per cent.
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Sidbi to co-sponsor Rs 100-cr biotech fund
New Delhi: The department of biotechnology is setting up a Rs 100-crore Biotechnology Development Fund in collaboration with Small Industries Development Bank of India to encourage private-public partnerships in the small scale sector as well as promote entrepreneurship in biotechnology.

It is proposed that the DBT would put in Rs 20 crore, while Sidbi would contribute the rest Rs 80 crore for the fund.

The fund proposal put up to the Planning Commission has in fact been worked out on the suggestion of the Commission.
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