• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Pune , March 28

Cosmos Cooperative Bank Ltd, the second largest multi-state cooperative bank in the country, has decided to increase its share capital to meet the RBI's BASEL-II norms that are applicable on all banks next year.

Additional shares were offered to the existing 42,000 shareholders and a ceiling of Rs 2 lakh per member fixed. This offer was open only for a fortnight (March 6-20).

According to the bank communication, prior to this share offer, the bank's share capital stood at Rs 42.57 crore, that is, CRAR (capital to risk weighted assets ratio) @ 15.74 per cent.

This percentage was significantly higher than the RBI prescribed minimum of 9 per cent.

The bank offer received an overwhelming response with 6,906 shareholders going in for additional shares.

Dr Mukund Abhyankar, Chairman of the bank, said that an additional capital of Rs 27.18 crore was bought by existing shareholders, pushing the share capital up by 64 per cent.

The bank's share capital now stands at Rs 69.84 crore, with 16.9 per cent CRAR.

More Stories on : Co-operatives | Maharashtra

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
TN bankers mull poultry package

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line