Sunday, September 20, 2015

Govt. to infuse Rs 947 crore in Canara Bank

Public lender Canara said the government will infuse an equity capital of Rs 947 crore in the bank.
  • It said the board of the bank at a meeting held today approved the proposal of issuing equity shares on preferential basis to the government in lieu of the capital infusion.
  • SBI also spoke of issuance of equity shares on a preferential basis to the government for a capital infusion of Rs 5,393 crore.
  • Earlier this month, the government decided to infuse a total of Rs 20,088 crore in 13 public sector banks, including SBI, PNB, IDBI, Bank of Baroda, Canara Bank, Indian Overseas Bank and Union Bank of India .

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