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

Our Bureau Updated - August 17, 2020 at 08:53 PM.

A pedestrian wearing a protective mask walks past an RBL Bank Ltd. branch on a near-empty street in Mumbai, India, on Monday, May 4, 2020. India's central bank Governor Shaktikanta Das and the chief executive officers of the nation's banks have discussed ways to ensure credit flow to businesses once the world's toughest stay-at-home order ends. Photographer: Dhiraj Singh/Bloomberg

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 15:21
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