"The bank has successfully raised Rs 500 crore under Basel III compliant additional tier I bonds on March 30, 2016 with a coupon of 11.15 per cent per annum from Rural Electrification Corporation Ltd," Indian Bank said in a BSE filing.
Earlier this month, Indian Bank had informed that its Board has given approval to raise Basel III compliant tier II or additional tier I bonds for Rs 1,100 crore in one or more tranches in the current or subsequent years based on the requirement.
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