At meeting held on 19 May 2015
Syndicate Bank announced that the Board of Directors of the Bank at its meeting held on 19 May 2015, has approved to raise equity capital of Rs. 2,000 Crore (Rupees Two thousand Crore only) including premium to be decided as per the guidelines by way of Qualified Institutional Placement (Domestic & Foreign financial institutions)/Rights Issue /Follow on Public /or any other mode approved by Reserve Bank of India / Government of India, at an appropriate time.The Board also approved to raise Basel III Complaint Additional Tier I bonds upto Rs. 1,800 Crore (Rupees One thousand eight hundred Crore only) and Tier II bonds upto Rs. 1,750.00 Crore (Rupees One thousand seven hundred and fifty Crore only), as per eligibility at an appropriate time.
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