Vijaya Bank has issued a statement saying that it does not have any more fund raising plan during the year as it is anticipating Rs 700 crore from the central government as recapitalization in the third quarter of the current financial year.

While addressing media, Mr. Albert Tauro, Vijaya Bank Chairman and Managing Director said, “We have already received Rs 500 crore and another Rs 700 crore would be received in the third quarter of the year.”

The bank was eyeing credit off take to surge during this quarter that would assist Vijaya bank to post an advance growth of 20-22% in the fiscal.

The total business of the bank stood at Rs 630 billion.

Mr. Tauro also said, “We are targeting 2.5 to 2.6 per cent for the full year.”