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Mumbai, Oct. 16

Bank of America has announced a capital infusion of Rs 330 crore ($83 million) into its India operations. The capital infusion will strengthen the capital adequacy ratio and will boost the bank’s total capital base to Rs 2,029 crore. With this infusion, the Tier-I capital of the bank’s India branches will increase to Rs 1,851 crore. Earlier, in 2005, the bank injected Rs 767 crore into its India operations. Mr Vishwavir Ahuja, Managing Director and Country Executive for India, said, “The infusion of additional capital reflects the confidence of the bank in its India operations and the recognition of India as a key growth market in Asia.”

— Our Bureau

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