New Delhi : The State run Bank of India on Saturday disclosed that it has received a capital infusion of Rs 2,257 crore from the central government.
In a in a BSE filing, the public sector bank, which is in a process of strengthening its capital, said, “The bank has on December 29 received infusion of Rs 2257 crore from the Government of India, in form of Common Equity Tier-1 Capital, which is being kept as Share Application money and would be allocated after due procedure/conditions for allotment.
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It may be recalled that the central government, on October 24 had unveiled a Rs 2.
11 lakh crore two-year roadmap for strengthening NPA-hit public sector banks, which includes re-capitalisation bonds, budgetary support and equity dilution.
Keeping the financial health of Bank of India, Reserve Bank of India (RBI) had initiated ‘prompt corrective action’ (PCA) against Bank of India (BoI) to stem losses from the huge non-performing assets (NPAs) of the bank.
UNI
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