Government to infuse more than Rs 10,000 crore into Bank of India
According to the filing, the bank's board will consider "by way of circular resolution on or after January 2, 2019 the proposal for raising capital by this infusion"
The Central government has decided to infuse Rs 10,086 crore into Bank of India. The bank informed the BSE in a regulatory filing on Saturday that the capital infusion in its equity will be done by way of preferential allotment.
According to the filing, the bank's board will consider "by way of circular resolution on or after January 2, 2019 the proposal for raising capital by this infusion and further issue of equity shares or securities at an appropriate time and other incidental matters thereat".
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