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
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.)
More From This Section
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Aug 23 2022 | 3:37 PM IST