Indian Bank raises Rs 600 crore

Under Basel III compliant Tier II Bonds

Indian Bank has successfully raised further Rs. 600 crore under Basel III compliant Tier II Bonds on 28 July 2016 with a coupon of 8.10% p.a., tenor at 10 years and Call Option after completion of 5 years, on private placement basis. The Credit Rating assigned is "CRISIL AAA/Negative" and "CARE AAA".

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