Money & Banking

RBL Bank board to meet on Aug 20 to announce plans for capital raise

Our Bureau Mumbai | Updated on August 17, 2020

Private sector lender RBL Bank is the latest to announce plans to raise funds amidst the Covid-19 led economic uncertainty.

The bank’s board of directors is set to meet on August 20 “to approve raising of funds by way of issue of equity shares on a preferential basis,” it said in a regulatory filing on Monday.

Earlier, lenders such as HDFC Bank, Kotak Mahindra Bank, Axis Bank and ICICI Bank have raised capital.

The RBL Bank scrip closed 3.44 per cent higher at Rs 183.45 apiece on BSE on Monday.

Published on August 17, 2020

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