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The board of directors of South Indian Bank will meet on Wednesday to consider a proposal to augment its paid-up capital through issue of equity shares on rights basis.
Investors will closely monitor the quantum of the funds the bank plans to raise, entitlement ratio for the rights issue and the price at which the offer will be made. In a presentation made to its investors in October, the bank said it will work out a strategy and roadmap to increase CASA funds.
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