IOB mentioned that it would be increasing near Rs 3,500 cr in core tier I capital

IOB mentioned that it would be increasing near Rs 3,500 cr in core tier I capital over the next 3 yrs to finance development.

Tier I_capital is the core measurement of a bank’s financial power from a regulators angle.

‘We will be requiring around Rs1,200 cr per year for an additional 3 yrs given the development plans that we’ve drawn up,’ the Chennai_headquartered banks executive director NupurMitra mentioned.

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