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-Indian State Bank of Travancore gets board approval for capital hike.

BANKING AND CREDIT NEWS-December 28, 2010--Indian State Bank of Travancore gets board approval for capital hike(C)2010 M2 COMMUNICATIONS

28 December 2010 - Indian State Bank of Travancore (BOM:532191) has been cleared by its board of directors to launch a INR5bn (USD110.9m/EUR84m) rights issue, the lender said in a filing with the National Stock Exchange of India on Tuesday.

Earlier in December, the bank said it would use the funds from the cash call to bolster its credit growth and reinforce its capital adequacy ratio.

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Publication:M2 Banking & Credit News (BCN)
Date:Dec 28, 2010
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