Published On: Mon, Jan 11th, 2016

Indian Bank Plans to Raise Rs 1,100 Crore From Bonds

Indian Bank Plans to Raise Rs 1,100 Crore From Bonds

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

The state-owned lender 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 a board meeting to be held on January 19, it said.

 

[Source:- REAUTERS]