DCB to raise Rs 310cr, board meet on July 10

The board of directors of Development Credit Bank (DCB) will meet on July 10 to consider a proposal to raise Rs 310 crore.

According to a release issued by the bank to the BSE today, the board, at its meeting on May 3&4, had approved raising up to Rs 275 crore by means of private placement/preferential issue/overseas issue.

The meeting on July 10 will consider a proposal in supersession to the earlier resolution, the release added.