INSUBCONTINENT EXCLUSIVE:
financial position.
The bank had not paid the coupon on the Basel II Tier I bond due on March 5, which was subject to the bank meeting the
regulatory capital adequacy ratio (CAR)
The coupon payment on these bonds also required prior approval of RBI in case such payment of coupon results in an increase in net loss.
The
bank in its last results for H1FY20 had declared a CAR of 16.30 per cent and loss of Rs 486 crore, however, it deferred its Q3FY20
liabilities in a timely manner
The terms of proposed reconstitution or amalgamation of the bank will remain the key determinants of the future rating actions on the above
