Corporate News 02-Jun-16
Outcome of board meeting of South Indian Bank
Held on 01 June 2016
South Indian Bank announced that the Board of Directors of the Bank at its meeting held on 01 June 2016 has decided to augment the capital by issue of Basel III compliant Tier I/II Bonds to be considered for Capital Fund purpose for a total face value not exceeding Rs. 500 crore in one or more tranches, on such terms and conditions as it may deem fit, subject to the approval of Reserve Bank of India, Shareholders and other regulatory authorities, if any. The mode, price and time of the issue will be intimated in due course.
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