Boi Lending Powers To Be Enhanced

Bank of Indias Rs 675 crore public issue will enable it to increase its lending powers by Rs 3,000 crore. The issue, which will open on February 21, will increase the banks capital adequacy ratio (CAR) from the current 9.28 to 11 per cent. The money raised by the public issue will be deployed in modernising the countrys infrastructure.

Currently, the banks Tier I and Tier II capital stand at Rs 1,659.83 crore while its total risk weighted assets stand at Rs 17,883.88 crore.