BoB board agrees to loss set-off plan against share premium account
The Hindu
State-run Bank of Baroda (BoB) has received board approval to set off accumulated loss of over ₹11,048 crore against the share premium account of the bank. The board of directors of the bank approved
State-run Bank of Baroda (BoB) has received board approval to set off accumulated loss of over ₹11,048 crore against the share premium account of the bank. The board of directors of the bank approved the proposal on June 5, BoB said. The bank is to set off its accumulated losses of ₹11,048.44 crore as of March 31 by utilising an equivalent amount standing to the credit of share premium account of bank as on the date of set off and take the same into account during FY22, it said.More Related News