J&K Bank board's meet on May 15 to raise Rs 1,600 cr in FY20

Jammu & Kashmir Bank Friday said its board will meet next week to consider raising Rs 1,600 crore during the current financial year.

"The board of directors shall... consider the raising of capital (ATI/tier II) to the tune of Rs 1,600 crore during the financial year 2019-2020 in the meeting scheduled for May 15, 2019," Jammu & Kashmir (J&K) Bank said in a BSE filing. Shares of Jammu & Kashmir Bank were trading 4.16 per cent higher at Rs 55.10 apiece on BSE.