Syndicate Bank to raise 5.39 bln rupees from govt

Syndicate Bank said on Monday it planned to raise 5.39 billion rupees through issue of preferential shares to the government by March-end.

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A committee of directors formed to decide on the quantum of fund raising via issue of preferential shares gave a go-ahead on Saturday, the state-run bank said. The issue price will be determined as per the regulatory norms.

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