"The bank has on December 29 received an infusion of Rs 2,257 crore from 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," the bank said in a regulatory filing to the BSE.
On October 24, the government had approved a recapitalisation plan for strengthening NPA-hit state-run banks to a tune of Rs 2.11 lakh crore.
"The infusion is in terms of the Ministry of Finance, Department of Financial Services, Government of India," the BSE filing added.
On Friday, the scrips of the bank closed lower by 0.24 per cent at Rs 169.70 per share on the BSE.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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