Syndicate Bank receives Rs 728 cr capital infusion

Mumbai : Public sector lender Syndicate Bank has received a capital infusion of Rs 728 crore from the Central government.

The bank informed the BSE in a regulatory filing on Monday that the capital infusion has been made towards contribution of the Central government in the preferential allotment of equity shares during financial year 2018-19.

"The said fund was received by the bank on 22nd October, 2018 and has been kept in 'Syndicate Bank Share Application Money Account'," the lender said in the regulatory filing.