Karnataka Bank has redeemed the Subordinated Debt instruments (Lower Tier 2) (Series I) bonds issued by the bank on June 30, 2007 aggregating to Rs 120.50 crore, listed on the NSE-WDM-Segment. The said bonds have been redeemed on June 30, 2017 as per the terms of offer and principal along with interest for the broken period has also been paid to the bond holders as on record date.
Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.
