Indian Bank has received its board’s approval for the Government proposal to infuse Rs 280 crore in the bank by way of preferential equity allotment. The bank’s board gave approval for the same in its meeting held on February 14, 2015. The Board also decided to convene an Extraordinary General Meeting (EGM) of the shareholders of the Bank for obtaining their approval for the proposed Preferential issue to the Government of India. The EGM has been fixed for March 23, 2015.
The government had looked at return on assets (ROA) and return on equity (ROE) for the last three years.
