On March 21, the Bank of India (BoI) announced a Rs 109 crore investment in National Asset Reconstruction Company Ltd. (NARCL). In a regulatory statement, the bank stated, “We thus announce that on March 21, 2022, the bank invested Rs 108.81 crore in National Asset Reconstruction Company Ltd (NARCL) under preferential share issue.”
- As of March 21, 2022, the bank’s stake in NARCL will be nine per cent. NARCL is a government-backed asset reconstruction firm that was founded in July 2021.
- On the BSE, BoI shares closed at Rs 47.50 per share, down 1.14 per cent from the previous close.