"The meeting of the Board of Directors of the bank shall be held on May 18," it said in a regulatory filing.
The meeting would "...approve raising equity capital not exceeding Rs 1,000 crore in one or more tranches during any financial year by qualified institutions placement, public issue, rights issue or such other capital issues...," the filing said.
The bank's capital adequacy ratio stood at 10.84 per cent at the end of third quarter last fiscal and the government's shareholding in the bank was 85.23 per cent as on March 31.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
About VDC
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.