Dena Bank gets Rs243 crore from govt1 min read . Updated: 30 Dec 2017, 07:33 PM IST
Dena bank has received infusion of Rs243 crore from the government towards contribution of central government in the preferential allotment of equity shares
New Delhi: State-run Dena Bank on Saturday said it has received capital infusion of Rs243 crore from the government.
“The bank has on December 29 received infusion of ₹ 243 crore from the Government of India, towards contribution of central government in the preferential allotment of equity shares," Dena Bank said in a BSE filing.
According to the statement, the amount has been kept as share application money and would be issued after necessary approval/permissions. The bank said that the board approval for the same is already in place.
This is within the approval of board obtained on 9 May 2017 for raising CET1 capital amount of Rs1,800 crore in one or more tranche. The government had on 24 October unveiled a Rs2.11 trillion two-year roadmap for strengthening non-performing assets (NPA)-hit public sector banks, which includes re-capitalisation bonds, budgetary support and equity dilution.