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IOB to raise Rs 800 cr through perpetual bonds

Stock's up 1.6% st Rs 85

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The Chennai-based Indian Overseas Bank informed BSE that the Board of Directors of the Bank at its meeting held on December 08, 2012, considered and approved to raise Rs 800 crore by way of Tier 1 (Perpetual) Bonds in one or more tranches.

Following the announcement Bank's stock price by 1.61% to 85.35 a share.

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RBI to infuse Rs 8,000 cr through OMO on Jan 4

"Consistent with the stance of monetary policy and based on the current assessment of prevailing and evolving liquidity conditions, the Reserve Bank ...

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