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Bank of India gets 15B rupees capital infusion from government

Bank of India received 15 billion rupees from the Indian government in the form of common equity Tier 1 capital.

The capital injection is part of the government's plan to infuse 85.86 billion rupees into 10 public sector banks, including Bank of India, the bank said April 1.

The lender is also seeking approval from its board to raise capital in the 2017-2018 fiscal year.

As of March 31, US$1 was equivalent to 64.86 Indian rupees.