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Bank of India is planning to raise Rs 6,000 crore from Tier I and II bonds to fund its business growth.
The bank has got shareholders’ approval in this regard in the Annual General Meeting that was held on Monday.
BoI said in a filing that the shareholders have approved the issuance and allotment of bonds and other securities for Tier-I, Tier-II capital of up to Rs 6,000 crore via qualified institutional placement (QIP), public issue, rights issue or such other issues.
