The Bank is well-positioned to serve the market and benefit from the opportunities that would arise going forward.
The names of allottees include Monetary Authority of Singapore (11.08 per cent), Morgan Stanley Investment Management Inc (7.31 per cent) and Societe Generale (5.55 per cent).
Many private sector lenders have raised funds to create a buffer so that they are in a position to absorb any kind of shock emanating from the pandemic. Axis Bank
has raised equity capital of Rs 10,000 crore through QIP
and Mortgage Lender Housing Development Finance
Corporation (HDFC) also raised Rs 10,000 crore equity capital.
Many state owned lenders like Punjab National Bank, Bank of Baroda and Canara Bank are also in the process of raising funds.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.