State-run Corporation Bank has revealed its plans to raise around Rs 1,000 crore in the current financial year.

According to a bank official, the lender has plans to raise Tier II capital of around Rs 1,500-2,000 crore for the current fiscal. Out of which, the bank has already raised Rs 1,000-crore during April in two tranches and the rest will be raised over the year in different tranches.

Further, the lender also sees a scope for reduction in its deposit rates by 0.25-0.50 per cent, he said. The bank's current benchmark lending rate was at 12% and the peak deposit rate was 7.25% for 1 year maturity

The bank expects loans and deposits to grow by 22 -24% each in the financial year.