Latest News | J&K Bank Plans to Raise Rs 4,500 Crore

New Delhi, Aug 25 (PTI) State-owned Jammu & Kashmir Bank on Tuesday said it plans to raise up to Rs 4,500 crore in the current fiscal.

The bank's Board of Directors will meet on August 28 to take a decision in this regard.

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"We hereby inform that the Board of Directors of the bank shall consider the raising of capital (Tier I/Tier II) to the tune of Rs 4,500 crores during the Financial Year 2020-2021, in the meeting scheduled for August 28, 2020," it said in a regulatory filing.

Shares of J&K Bank closed at Rs 17.90 apiece on BSE, down 0.56 per cent from the previous close.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)