Bank of India has received approval for raising capital aggregating to Rs 4,800 crore. The fund will raised by issue of fresh equity capital in the form of FPO / QIP and / or Basel III Compliant Additional Tier-1 (AT-1) bonds (domestic and foreign currency) upto an amount of Rs 3,000 crore and by issue of Basel III compliant Tier-2 bonds upto an amount of Rs 1,800 crore.
For this purpose, bank has decided to obtain the approval of shareholders in the ensuing Annual General Meeting / Extraordinary General Meeting called for this purpose. The Board of Directors of the bank at their meeting held on April 30, 2021, approved the same.
Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.
