Will RBI veto impact Bank of Maharashtra?

| Updated on September 17, 2018 Published on September 17, 2018

The Reserve Bank of India has vetoed Bank of Maharashtra’s proposal to set off accumulated losses using the balance in its share premium account. The bank, which received the nod from its board and shareholders for the proposal to set off the accumulated losses aggregating to ₹2,543.66 crore as of March 31, 2018, against the balance in the share premium account, moved the RBI for final approval. Shareholders will closely monitor how the bank pursues the matter further.

Published on September 17, 2018
This article is closed for comments.
Please Email the Editor