"Total step up in provisioning of Rs 2,935 crore consists of additional Rs 765 crore towards Covid-related provisioning (aggregate at Rs 2,683 crore) and balance majorly towards increasing PCR of both NPA and NPI," the lender said in the filing.
Due to the strong pick up in retail and SME disbursements, the lender's net advances expanded 1.7 per cent quarter-on-quarter.
Meanwhile, the bank's board has cleared a proposal for raising Rs 10,000 crore either by equity or debt.
The board has approved "raising of funds for an amount aggregating up to Rs 10,000 crore in one or more tranches...by way of issuance of securities, through one or more permissible mode(s) including but not limited through a Qualified Institutions Placement, Rights Issue, Global Depository Receipts, American Depository Receipts, Foreign Currency Convertible Bonds, Further Public Offering or a combination".
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