Bhubaneswar: The Odisha Gramya Bank, one of the RRBs of the state, is in bad shape as its CRAR has plunged below the stipulated 9%. The Bank now required a capital infusion of Rs 259.34 crore by March 31, 2017 to escape the RBI’s withdrawal of its operating license.
The Central government has approved a capital infusion of Rs 129.67 crore as part of its 50% stake in the Bank. It has now requested the state government to chip in Rs 19.45 crore towards its 15% equity. The rest would be contributed by the Indian Overseas Bank, which is the sponsor bank, as part of its 35% stakes.