Canara Bank to raise up to Rs 2,000 cr via Basel-III Tier-II bonds

Canara Bank plans to raise Rs 2,000 crore, which includes Rs 1,000 crore through Basel-III Tier-II bonds maturing in 10-years, market participants said

Canara Bank
A rickshaw puller passes the Canara Bank branch in the old quarters of Delhi. Photo: Reuters
IANS Mumbai
1 min read Last Updated : Aug 23 2022 | 3:37 PM IST

Canara Bank plans to raise Rs 2,000 crore, which includes Rs 1,000 crore through Basel-III Tier-II bonds maturing in 10-years, market participants said.

The bidding for the bonds will take place on August 25 between 11 a.m. and 12 p.m. on the BSE's bidding platform.

Most banks were raising funds in the past few weeks either through certificates of deposit, fixed deposits and bonds amid rising credit demand.

This was even after the rates on these instruments were rising after the Reserve Bank of India (RBI) hiked repo rate 50 basis points in the recent policy.

--IANS

msn/dpb

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Canara BankTier II - IIIBonds

First Published: Aug 23 2022 | 3:37 PM IST

Next Story