Additional
capital for Indian Bank
Our Banking Bureau
25 March 2002
 New
Delhi: The central government will infuse another Rs 770 crore
in Indian Bank in the next fiscal, after providing Rs 1,300 crore
in this year’s budget. This is to enable the ailing bank to
comply with Reserve Bank of India (RBI) norms.
 Says
India Bank chairperson Ranjana Kumar: "After the first
capital infusion, the bank’s net worth will become positive. The
additional Rs 770 crore in the next fiscal will help the bank
comply with the RBI-stipulated minimum capital adequacy ratio of 9
per cent."
The recapitalisation from the government was awaited for over  a
year, but Finance Minister Yashwant Sinha had insisted on better
performance as a precondition to capital infusion.
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