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Short-Term Cost Of Funds Slightly Higher: Allahabad Bank

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September 26: Allahabad Bank’s Shubhalakshmi Panse says the RBI policy was announced near the half year mark, which puts tremendous amount of pressure on funds and raised the cost of funds. Our MSME advances stand at 20% and we’re looking at raising this to 27% by the end of FY14, she says. “As far as FY14 is concerned, we are well-capitalized but will need to raise funds for FY15,” she says, adding that the government has promised additional funds worth Rs.1000 crore.