Conversion of Perpetual Non-Cumulative Preference Shares subscribed by Government of India in Public Sector Banks including Indian Bank, UCO Bank and Vijaya Bank into Equity Shares

Conversion of Perpetual Non-Cumulative Preference Shares subscribed by Government of India in Public Sector Banks including Indian Bank, UCO Bank and Vijaya Bank into Equity Shares https://www.taxtmi.com/news?id=12213 Conversion of Perpetual Non-Cumulative Preference Shares held by the central government in three public sector banks into equity is proposed, subject to shareholder and regulatory approvals. The conversion is intended to enhance Tier-1 capital by replacing non equity instruments lacking loss absorption capacity with equity, thereby increasing available funds for credit to productive sectors and supporting financial inclusion, with similar conversions to be considered for other banks where comparable instruments were issued. en-us Fri, 03 Jan 2014 09:47:52 +0530 Fri, 03 Jan 2014 09:47:52 +0530 TaxTMI RSS Generator Conversion of Perpetual Non-Cumulative Preference Shares subscribed by Government of India in Public Sector Banks including Indian Bank, UCO Bank and Vijaya Bank into Equity Shares https://www.taxtmi.com/news?id=12213 Conversion of Perpetual Non-Cumulative Preference Shares held by the central government in three public sector banks into equity is proposed, subject to shareholder and regulatory approvals. The conversion is intended to enhance Tier-1 capital by replacing non equity instruments lacking loss absorption capacity with equity, thereby increasing available funds for credit to productive sectors and supporting financial inclusion, with similar conversions to be considered for other banks where comparable instruments were issued. News - Fri, 03 Jan 2014 09:47:52 +0530 https://www.taxtmi.com/news?id=12213