Public sector lender Bank of India has informed that its board of directors has approved to raise up to Rs 13,006 crore through issuance of innovative perpetual debt instruments, preference shares, tier II bonds and upper tier II capital bonds.

Yesterday, Bank of India (BOI) announced the cut in interest rates on domestic term deposits by 25-75 basis points across various maturities.

The revised rates will be applicable for fresh deposits as well as on renewal of maturing deposits with effective from June 27.

Shares of Bank of India on Thursday closed at Rs 344, down 0.85 per cent on the BSE.