South Indian Bank has received an approval to the information memorandum for issuance of rated, unsecured, redeemable, non-convertible, Basel III compliant, lower Tier 2 subordinated bonds bearing a face value of Rs 1,00,000 each, up to Rs 150 crore with an option to retain an over-subscription aggregating up to Rs 100 crore aggregating to a total issue size of Rs 250 crore. The Capital Planning and Infusion Committee of Directors of the Bank on March 20, 2019, approved the same.
South Indian Bank is considered one of the most proactive banks in India with a competent tech savvy team of professional at the core of services.
