Andhra Bank Expects To Get Another Rs 122 Cr In Central Assistance

Andhra Bank Expects To Get Another Rs 122 Cr In Central Assistance

Andhra Bank has said it expected the Centre would infuse another Rs 122 crore or more by the end of the current financial year, of the Rs 500 crore requested as financial support. As part of the announcement of the Indradhanush plan for revival of public sector banks, the Centre has announced assistance of Rs 378 crore to the bank. Managing Director and Chief Executive Officer S K Kalra, said, “We have requested the government for about Rs 500 crore and Rs 378 crore has been approved. The rest will be released after assessing the performance and we expect to get more than Rs 122 crore as the second tranche by the end of the year.” The first tranche is expected to come in a month and will be utilised to maintain capital adequacy.

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