:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

SBI, UCO BANK, IOB APPROVE CAPITAL RAISING


SBI, UCO Bank, Indian Overseas Bank said that they would preferentially allot shares to the government in return for capital infusion.

In December, India's cabinet approved additional capital infusion of 60 billion rupees ($1.3 billion) into state-run banks to hike their capital adequacy and to lift the government's stake in them.

The funds are in addition to 150 billion rupees of infusion provided for in the February 2010 budget.

Several other state-run banks are also expected to approve the fund infusion over the next few days.

The Indian government is expected to infuse $3.3 billion into State Bank of India in the next fiscal year via a rights issue.

SOURCE: http://articles.economictimes.indiatimes.com/2011-02-19/news/28615207_1_fund-infusion-capital-infusion-state-run-banks

Posted by C.B.O.A., A.P.

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