Capital plan doesn’t mean KBL proposes 10% bonus share for last FY

ShareSansar, September 1:

Kumari Bank Limited has clarified that the plan it has just submitted to the central bank to meet the paid-up capital requirement to Rs 2 arba should not be taken as the dividend it has proposed the central bank to approve.

Referring to the news "How will 7 banks meet paid-up requirement? When will they hold AGM" published in ShareSansar yesterday, the bank has stated that it only meant that 10 percent bonus shares would be enough for it to meet our required capital as per regulatory norms.

“We have only submitted our capital plans to the regulator and have not decided nor asked the regulator for approval on the bonus shares,” said Narendra Chhatkuli, the company secretary of Kumari Bank.