Bank of India will raise up to Rs 13,006 crore through issuance of innovative perpetual debt instruments, preference shares, tier II bonds and upper tier II capital bonds.

The board of directors of the bank have approved to raise tier I and tier II capital.

Click here for Cloud Computing

Also Read   Related Stories News Now - Bank of India cuts deposit rates - United Bank plans to raise Rs 400 cr in IPO - Union Bank to foray into mutual fund biz - EPFO may retain 8.5% interest on PF deposits - Syndicate Bank raises Rs 200 cr - Banks should give details of fund transfer via SMS, emails: RBI

Also Read   Related Stories News Now - Markets end lower on profit booking - HSBC India CEO Davis to move to Singapore in March - Black money estimates lack evidence: Swiss Embassy - Markets end lower amid weak global cues - World stocks fall on delays in Greek bailout More

Similarly, public sector lender Syndicate Bank is also planning to raise Rs 150 crore through the sale of perpetual bonds.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end lower on profit booking - HSBC India CEO Davis to move to Singapore in March - Black money estimates lack evidence: Swiss Embassy - Markets end lower amid weak global cues - World stocks fall on delays in Greek bailout

Tags : Bank of India | Syndicate Bank | Preference Shares | banking sector   Read Business news in  Advertisements -  Now property search gets more exciting than ever before! -  IndianOil Citibank Card at Zero annual card fee -  High Growth Business Opportunities in Africa - Register to explore -  Save over Rs.3000 with IndianOil Citibank Card -  We live for our family. have you secured them? -  Office 365 for professionals and small businesses. -  India's No. 1 Property Site. Click here to know more.. -  Diseases earlier, Saving Costs, Extending Lives. Know More.. -  Win a Business Class Ticket to Europe..Know more.. -  Exim Bank Conclave on India - Africa Project Partnership. Know more.. -  Enjoy the journey as much as the destination. click to know more.. -  Medium-sized businesses are the engines of a smarter planet. -  Be part of it The World's Largest Aircraft. -  Creating Wealth made simple the SIP way. Know more.. -  Only Developer to give a guarantee on time space & rate. -  Buy Your Property with Our Triple Guarantee in India. -  Improve Patient Care & Experience. Click here to know more -   Introduce a New Automotive Luxury Car.. know more -  Health is Wealth..... Insurance + Savings... Know More...