Indian Bank to raise Rs 1,100 crore from bonds

By: | Published: January 12, 2016 12:24 PM

The bank plans to raise Basel III compliant Tier II Bonds for Rs 1,100 crore in one or more tranches in the current or subsequent years based on the requirement, Indian Bank said in a regulatory filing.

State-owned Indian Bank plans to raise Rs 1,100 crore from bonds to fund business growth.

The bank plans to raise Basel III compliant Tier II Bonds for Rs 1,100 crore in one or more tranches in the current or subsequent years based on the requirement, Indian Bank said in a regulatory filing.

The decision in this regard will be taken in the board meeting to be held on January 19, it said.

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