Bank of India has received approval to raise funds upto an amount of Rs 10,000 crore at an appropriate time, through issuance of upto 125 crore fresh equity shares through Qualified Institutions Placement, public issue, rights issue, private placement, or such other mode of issue as permitted at an appropriate time. The issuance of such securities (including Tier I, Tier II bonds, preference shares) which may be classified for Tier I and/or Tier II capital on a private placement / public issue basis, in one or more tranches. The Board of Directors of the bank at its meeting held on December 06, 2019 has approved the same.
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