South Indian Bank has received an approval for the issuance of unsecured, perpetual, non-convertible, Basel III compliant, Tier I bonds not exceeding Rs 500 crore, in one or more tranches, with or without green shoe option (Bonds). The Bonds are being issued on a private placement basis to augment the Bank's Tier I capital, on such terms as the Board or Board approved committee may deem fit, subject to applicable regulatory approvals, if any.
The Board of Directors of the Bank at its meeting held on January 16, 2020, 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.
