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The government has provided its approval for the second tranche of capital infusion in public sector banks for enhancing their capital base.
Dena Bank has said in a regulatory filing that it “has received a communication from Government of India vide its letter dated March 16, 2017 informing inter alia capital allocation of Rs 600 crore as part of turnaround linked infusion plan.”
It also said that “the board approval for raising of capital of the bank through issue of equity shares to Government of India, LIC of India and GIC of India on preferential basis, is being obtained.”
