Karnataka Bank has raised Rs 320 crore through allotment of 32,000 Rated, Unsecured, Redeemable, Non-Convertible, Basel III Compliant, Lower Tier 2 Subordinated Bonds (Series VI) in the nature of Debentures (NCDs) bearing a face value of Rs 1 lakh each. The Capital Angmeiitation Committee of Board of the bank at its meeting held on February 18, 2019 has approved the allotment.
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.
