Public sector lender Allahabad Bank said that the centre has raised its authorised capital by Rs 5,000 crore to Rs 8,000 crore.
Post it’s consultation with the Reserve Bank of India (RBI), the central government has increased the authorised capital of the bank from Rs 3,000 to Rs 8,000 through Gazette Notification, said Allahabad Bank in a regulatory filing.
This inflation in authorised capital will enable the bank to further raise fund up to a maximum ceiling of Rs 8,000 crore.
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