 "Bank")
Indian Bank said that it made requisite accounting entries setting off accumulated losses of Rs18,975.53 crore from the share premium account of the bank.
The bank informed exchanges that on November 30, 2020, a special resolution was passed by the shareholders of the bank approving "Appropriation of accumulated losses of Rs.18,975.53 crore from share premium account of the bank in the Extraordinary General Meeting (EGM), we have to inform you further that the bank on the date, with prior approval of Reserve Bank of India, has passed the requisite accounting entries setting off accumulated losses of Rs.18,975.53 crore from share premium
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