Photo: MintNew Delhi: State-owned Bank of India (BoI) has deferred the Rs3,000-crore capital raising plan through private placement of equity shares after the government’s move to infuse Rs2,257 crore capital into it, a top official said. It is to be noted that the bank has been placed under the Prompt Corrective Action (PCA) framework by the Reserve Bank of India (RBI) following inspection of books in March 2017. As a result the Common Equity Tier 1 (CET1) came under pressure necessitating need for capital infusion for the government. BoI had last tapped the market in November last year to raise Rs500 crore capital through AT-1 bonds. Talking about other sources of raising capital, Mohapatra said, the bank is also looking at selling some of the non-core assets.

Source: Mint January 15, 2018 05:37 UTC