The country's third largest public sector lender Bank of Baroda (BoB) has revealed its plans to raise about Rs 1,500 crore in the next 7 months from bonds.

The move has been planned by the bank to meet its capital requirement.

The lender plans to raise Rs 1,500 crore from Tier I and II bonds in the remaining part of the fiscal, which will help in maintaining capital adequacy ratio of over 12.5%. The bank expects credit growth of 25% in the fiscal.

In a separate release, Bank of Baroda (BoB) today launched an initiative to facilitate two-way flow of investments between India and the UAE.

Bank officials stated in a communiqué that the share of the UAE in the overall FDI flows to India is only 1 per cent, so there is tremendous scope to enhance this. It should be noted that Bank of Baroda is the only Indian bank with full-fledged branches in the UAE.

The overseas business accounted for 43% of the bank's net profit during the recent quarter.