Bank of India board OKs up to Rs. 100 billion tier 1, tier 2 issue

By Sarah Lizee

Olympia, Wash., Dec. 6 – Bank of India informed the Bombay Stock Exchange that its board of directors met on Friday and approved an issue of up to Rs. 100 billion securities in one or more tranches.

The issue may be classified as tier 1 and/or tier 2 capital and would be issued in a private placement.

Bank of India is a Mumbai-based corporate banking and financial services company.

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