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| Exchange Received Time 04/01/2018 19:28:08 Exchange Disseminated Time 04/01/2018 19:28:17 Time Taken 00:00:09 | We wish to inform that our Board of Directors have today considered and approved the following by circulation:
1. To utilize the balance available in the Share Premium account amounting to Rs. 7650.06 crore as at 31.03.2017 to write off the accumulated losses of the Bank aggregating to Rs. 6978.94 crore as at 31.03.2017 to present a true and fair view of the financial position of the Bank and to take the same into account during current Financial Year 2017-18.
2. Convening of an Extraordinary General Meeting (EGM) of shareholders of the Bank on Tuesday, January 30, 2018 at Chennai for obtaining the approval of the shareholders for the above.
Please take the above information on record.
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