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| Exchange Received Time 17/09/2018 16:37:58 Exchange Disseminated Time 17/09/2018 16:38:07 Time Taken 00:00:09 | This is in reference to our earlier letters dated 04th May, 2018 and 21st June, 2018 intimating you about the approval of Board and Shareholders of Bank respectively regarding the proposed set-off of the accumulated losses of the Bank aggregating to Rs.2543.66 crore as of 31st March, 2018 against the balance lying in Share premium account of Bank subject to necessary approvals/ permissions.
In regard to above, we hereby inform you that Reserve Bank of India vide its letter dated 11th September, 2018 has intimated about its inability to accede to the request made by Bank for setting-off the accumulated losses against the balance lying in Share premium account of the Bank.
We request you to take the above information on records in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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