RBI turns down Karantaka Bank proposal to allot shares to IFC

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Mumbai, Apr 21 (UNI) The Reserve bank of India has turned down a proposal of the Karnataka Bank Limited to allot 6.37 million shares to the International Finance Corporation on a preferential basis at Rs 225 per share, including a premium of Rs 215.

The Bank informed BSE that the Apex bank, through its letter dated April 16, had communicated to the Bank its inability to accede to the Bank's proposal for preferential allotment to IFC.

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