Federal Bank’s board has approved an investment of Rs 148 crore in subsidiary - Fedbank Financial Services (FFSL) through rights issue. The objective of the Rights issue is to infuse regulatory capital in the firm. This is more than 5% of the Post-issue Paid up Capital of FFSL.
Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.