The bank plans to raise Rs 30 crore by issuing fresh equity shares and the remaining Rs 370 crore from an offer for sale.
HDFC MF and Aditya Birla MF among domestic investors who participated in QIP
The bank has been plagued by asset-quality woes.
Banks have to keep aside a higher amount of money depending on the risk perception on loans guided by the central bank.
'If I tell you that all along we were very confident and we didn’t have moods of depression…I would be lying…'
The bank’s strong growth has impressed analysts.
This quarter has been a quarter of caution. Banks like SBI and Axis reported an increase in slippages.
"I will say we better go for increase in size of India's cake. Distribution can happen by increasing taxes later as policy makers know how to," he said.
Bankers said the drop in CASA also points to lower consumption demand as people prefer saving for the future instead of spending now.
Candidates for the post of board members in public sector banks should also not be a member of the board of any rival banks, said RBI.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon