Free Press Journal

Bank of India gets Rs 2,257 crore from government

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New Delhi: State-run Bank of India today said it has received capital infusion of Rs 2,257 crore from the government.

“The bank has on December 29 received infusion of Rs 2257 crore from the Government of India, in form of Common Equity Tier-1 Capital, which is being kept as Share Application money and would be alloted after due procedure/conditions for allotment,” Bank of India said in a BSE filing today.

The government had on October 24 unveiled a Rs 2.11 lakh crore two-year roadmap for strengthening NPA-hit public sector banks, which includes re-capitalisation bonds, budgetary support and equity dilution.