Bank of India gets $354m capital from government | The Daily Star
12:00 AM, January 01, 2018 / LAST MODIFIED: 12:00 AM, January 01, 2018

Bank of India gets $354m capital from government

State-run Bank of India, the country's sixth biggest lender by assets, said on Saturday it received 22.57 billion rupees ($353.6 million) from the government, joining other lenders in which the government is injecting funds to shore up their capital base.

Bank of India, which is three-quarters owned by the Indian government, was earlier this month placed under the central bank's prompt corrective action (PCA) framework due to high non-performing loans and insufficient core capital.

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