Dena Bank gets Rs 243 crore from govt

According to the statement, the amount has been kept as share application money and would be issued after necessary approval/permissions.

By: PTI | New Delhi | Published: December 30, 2017 10:31:09 pm
dena bank, psu, indian express The bank said that the board approval for the same is already in place.

State-run Dena Bank Saturday said it has received a capital infusion of Rs 243 crore from the government.

“The bank has on December 29 received infusion of Rs 243 crore from the Government of India, towards the contribution of the central government in the preferential allotment of equity shares,” Dena Banks said in a BSE filing Saturday.

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 May 9, 2017, for raising CET1 capital amount of Rs 1,800 crore in one or more tranche. The government had on October 24 unveiled a Rs 2.11 lakh crore two-year roadmap for strengthening NPA-hit public sector banks, which includes re-capitalisation bonds, budgetary support and equity dilution.

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