In April, the bank had received board approval to raise Rs 4,500 crore either through a QIP or rights issue or via additional Tier-1 bonds. The lender also received approval to issue Basel-III compliant Tier-2 bonds upto an amount of Rs.2,000 crore.
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Bank of India Q1 earnings: The gross non-performing assets of the bank declined to 6.67 percent from 9.30 percent in the same quarter of the previous year.
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