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 Money & Banking - Public Sector Banks


Andhra Bank commits Rs 10 cr to ASERC

Our Bureau

Hyderabad , Aug. 18

ANDHRA Bank has decided to make an additional subscription of Rs 10 crore to the equity share capital of the Asset Reconstruction Company (ASERC) India Ltd, floated by the Specified Undertaking of Unit Trust of India.

This contribution is over its initial commitment of Rs 1 crore. The board of Andhra Bank, which met on June 26 approved the latest proposal to commit Rs 10 crore, the bank has informed the Bombay Stock Exchange.

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