Question

The Committee of Directors of state-owned Indian Bank has given approval for raising fund up to what amount through share sale?
1. 2000 crore
2. 1500 crore
3. 4000 crore
4. 1000 crore
5. 500 crore

Answer 1

Correct Answer - Option 3 : 4000 crore

The correct answer 4000 crore.

• The Committee of Directors of state-owned Indian Bank has given approval for raising up to ₹4,000 crores through share sale.
• The fund raising would be subject to all statutory and regulatory approvals.
• The bank required to increase its public shareholding to at least 25% within a period of three years from August 3, 2018.