"..the board of directors of the bank proposes to approve by circulation on July 12, 2017 issuance and allotment of unsecured Basel III compliant listed tier II bonds in the form of promissory note .... aggregating up to Rs 500 crore," the lender said in a regulatory filing.
Bank's capital adequacy ratio, as on March 31, 2017 stood at 11.14 per cent.
The lender had received Rs 1,026 crore of capital support from the Centre in two tranches in the last financial year and it also had raised Rs 127.49 crore via its maiden QIP issue.
Further, the bank had raised additional Tier-I or AT-1 bonds to the tune of Rs 200 crore to augment its Tier-I capital.
(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.