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Vijaya Bank plans to raise Rs 1,000 crore to fund business

The Bank’s board of directors will put up the matter before shareholders at the annual general meeting on June 23

Vijaya Bank will raise up to Rs 1,000 crore equity capital on preferential/QIP basis within a year to create buffer as per global capital adequacy norms, Basel III and to fund business expansion. The Bank’s board of directors will put up the matter before shareholders at the annual general meeting (AGM) on June 23.

Vijaya Bank is one of the premier nationalized banks in India and offers various products & services specific to various segments such as it has saving accounts for children, scheme for women clientele, credit facilities to minority communities like Zoroastrians, Buddhists are among others.

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