The bank's board approved the issuance of shares at Rs 515 apiece, a 2.33% discount to the bank's closing price on Friday.
SIDBI said it had provided loans of Rs 3,586 crore for 1,384 MSMEs through its Rs10,000 crore ‘SIDBI Make in India Soft Loan Fund for MSMEs (SMILE)’.
"Eligible NBFCs extending such services shall ensure that the NPS subscription collected by them from the public is deposited on the day of collection itself with the trustee bank" RBI said.
"It was puzzling move, an attempt to flush out corruption with a very blunt instrument. There is a lot of collateral damage," the Nobel laureate said.
"I don't why the monetary policy in India is so tight if we have such inflation performance we will be looking at looser monetary policies," said Krugman.
Citibank's capital adequacy also improved to 17.6 per cent from 15.8 per cent in fiscal year 2016.
Many accountants prepare to take the insolvency exam as a Rs 8 lakh crore debt recovery initiative is underway.
The bank said it may raise long term bonds, green bonds and non-convertible debentures.
Total assets in India including loans to Indian clients from offshore Citibank entities remained flat at Rs 2.02 lakh crore.
It is unclear as to what prompted this sudden move by Singh, though in a press statement Julius Baer said he has “decided to take on a new challenge outside the bank.”
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