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Bank of India Board to meet next week to consider fundraising

NEW DELHI: Public sector lender Bank of India (BoI) on Thurs..

NEW DELHI: Public sector lender Bank of India (BoI) on Thurs..

NEW DELHI: Public sector lender Bank of India (BoI) on Thursday said its Board will meet on January 20 to consider raising funds.

The bank also said it has received capital infusion of Rs 2,257 crore from the government.

"A meeting of the Board of Directors has been scheduled for January 20, to consider capital raising plans by the bank," Bank of India (BOI) said in a BSE filing.

BoI, however, did not elaborate on the quantum of funds it plans to raise.

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

Shares of Bank Of India were trading 1 per cent up at Rs 166.55 per scrip on BSE.

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