The Government of India has conveyed its approval to infuse capital funds to the tune of Rs 1150 crore in Bank of India by way of preferential allotment of equity shares in favour of Government of India.
The bank has reported a net loss of Rs 1505.58 crore for the quarter ended December 31, 2015 as compared to net profit of Rs 173.38 crore for the same quarter in the previous year. The bank’s total income has decreased by 7.20% to Rs 11086.95 crore for the quarter under review from Rs 11947.45 crore for the corresponding quarter of the previous year.
