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Finance Ministry expects 6 banks to raise funds via FPO

Finance Ministry expects 6 banks to raise funds via FPO

Monday, April 17, 2017, 8:20 AM

Stock prices on the mend, the Finance Ministry will nudge at least six public sector banks to hit markets to raise funds and ease the pressure on exchequer of pumping in capital as per Indradhanush plan. As per the scheme, public sector banks need to raise Rs.1.10 lakh crore from markets, including follow-on public offer, to meet Basel-III requirements, which kick in from March-2019.
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